Ameriprise Financial (NYSE:AMP) Price Target Increased to $480.00 by Analysts at Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) had its price objective hoisted by Royal Bank of Canada from $470.00 to $480.00 in a research report released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a buy rating in a report on Wednesday, March 27th. UBS Group raised their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a buy rating in a research report on Thursday, January 25th. Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Piper Sandler raised their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an underweight rating in a research report on Friday, April 5th. Finally, Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an in-line rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial currently has an average rating of Hold and an average target price of $449.57.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $412.86 on Wednesday. Ameriprise Financial has a twelve month low of $279.85 and a twelve month high of $440.67. The stock has a market capitalization of $41.36 billion, a P/E ratio of 14.05, a PEG ratio of 0.69 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The business’s fifty day moving average price is $418.15 and its 200 day moving average price is $379.98.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 78.98% and a net margin of 19.42%. The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the firm earned $7.25 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial will post 34.43 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s payout ratio is presently 18.38%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 9,689 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,161 shares of company stock valued at $35,560,647. 0.96% of the stock is currently owned by insiders.

Institutional Trading of Ameriprise Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Venture Visionary Partners LLC increased its holdings in Ameriprise Financial by 2.9% in the fourth quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock valued at $5,650,000 after buying an additional 416 shares during the last quarter. 17 Capital Partners LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at about $2,078,000. Cerity Partners LLC boosted its stake in Ameriprise Financial by 280.6% in the fourth quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock valued at $11,585,000 after acquiring an additional 22,487 shares during the period. Acadian Asset Management LLC acquired a new position in Ameriprise Financial in the third quarter valued at approximately $1,150,000. Finally, Harbor Investment Advisory LLC boosted its stake in Ameriprise Financial by 75.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 144 shares during the period. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Company Profile

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.