Ameriprise Financial (NYSE:AMP) Given New $570.00 Price Target at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP - Get Free Report) had its target price hoisted by investment analysts at Keefe, Bruyette & Woods from $560.00 to $570.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 6.38% from the company's current price.

Other research analysts also recently issued reports about the company. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday. UBS Group downgraded shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 target price on shares of Ameriprise Financial in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average target price of $510.44.

Ameriprise Financial Stock Down 0.2 %

Shares of Ameriprise Financial stock traded down $1.29 on Monday, hitting $535.83. The company had a trading volume of 573,497 shares, compared to its average volume of 532,219. The stock has a 50-day moving average of $546.89 and a 200-day moving average of $499.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. Ameriprise Financial has a twelve month low of $385.56 and a twelve month high of $582.05. The firm has a market capitalization of $51.98 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.18 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts predict that Ameriprise Financial will post 38.68 earnings per share for the current year.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company's stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider's stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Ameriprise Financial by 429.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider's stock worth $222,103,000 after acquiring an additional 338,298 shares during the last quarter. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial during the third quarter worth approximately $98,742,000. Assenagon Asset Management S.A. grew its position in shares of Ameriprise Financial by 816.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider's stock valued at $116,698,000 after purchasing an additional 195,271 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider's stock worth $114,345,000 after purchasing an additional 143,648 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.