Jefferies Financial Group Raises Ameriprise Financial (NYSE:AMP) Price Target to $504.00

Ameriprise Financial (NYSE:AMP) had its price objective upped by Jefferies Financial Group from $500.00 to $504.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an outperform rating in a research report on Wednesday, April 24th. Argus upped their target price on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a buy rating in a research report on Monday, May 6th. Piper Sandler cut their target price on shares of Ameriprise Financial from $390.00 to $387.00 and set an underweight rating for the company in a research report on Friday. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a buy rating in a research report on Wednesday, March 27th. Finally, Evercore ISI upped their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of Hold and an average target price of $456.22.

Ameriprise Financial Stock Down 0.7 %

Ameriprise Financial stock opened at $427.19 on Friday. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $446.32. The firm has a market capitalization of $42.43 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 0.73 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 1.13. The firm has a 50 day simple moving average of $428.66 and a 200 day simple moving average of $410.88.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $7.25 EPS. On average, analysts predict that Ameriprise Financial will post 34.95 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.39%. Ameriprise Financial’s payout ratio is currently 20.15%.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC increased its position in shares of Ameriprise Financial by 13.3% during the third quarter. LPL Financial LLC now owns 39,255 shares of the financial services provider’s stock valued at $12,941,000 after buying an additional 4,593 shares during the period. Trexquant Investment LP increased its position in shares of Ameriprise Financial by 247.4% during the third quarter. Trexquant Investment LP now owns 10,424 shares of the financial services provider’s stock valued at $3,437,000 after buying an additional 7,423 shares during the period. Bank of Nova Scotia increased its position in shares of Ameriprise Financial by 23.5% during the third quarter. Bank of Nova Scotia now owns 12,432 shares of the financial services provider’s stock valued at $4,098,000 after buying an additional 2,362 shares during the period. Gotham Asset Management LLC increased its position in shares of Ameriprise Financial by 12.3% during the third quarter. Gotham Asset Management LLC now owns 1,096 shares of the financial services provider’s stock valued at $361,000 after buying an additional 120 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Ameriprise Financial by 123.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 44,160 shares of the financial services provider’s stock valued at $14,559,000 after buying an additional 24,433 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.