Keefe, Bruyette & Woods Raises Ameriprise Financial (NYSE:AMP) Price Target to $470.00

Ameriprise Financial (NYSE:AMP) had its target price increased by Keefe, Bruyette & Woods from $460.00 to $470.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other analysts have also recently commented on AMP. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a buy rating in a research note on Friday, June 28th. Evercore ISI raised their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an in-line rating in a research note on Thursday, April 11th. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an underweight rating on the stock in a research report on Friday, June 28th. Finally, Raymond James assumed coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a market perform rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Ameriprise Financial presently has an average rating of Hold and an average price target of $462.89.

Ameriprise Financial Stock Performance

Shares of AMP opened at $439.83 on Monday. The company has a 50-day simple moving average of $432.29 and a two-hundred day simple moving average of $413.93. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $43.68 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. Ameriprise Financial has a one year low of $306.63 and a one year high of $446.32.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the company earned $7.25 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, analysts anticipate that Ameriprise Financial will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.35%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insider Transactions at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Retirement Group LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $28,000. Bank & Trust Co bought a new position in Ameriprise Financial in the second quarter valued at about $29,000. Sound Income Strategies LLC bought a new position in Ameriprise Financial in the first quarter valued at about $32,000. Finally, Annapolis Financial Services LLC boosted its position in Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.