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

Ameriprise Financial (NYSE:AMP) had its target price boosted by equities researchers at Jefferies Financial Group from $500.00 to $504.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 17.11% from the stock’s current price.

AMP has been the subject of several other reports. Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. 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 report on Thursday, April 11th. Finally, Argus raised their price objective on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $456.22.

Ameriprise Financial Stock Up 0.0 %

Shares of AMP traded up $0.04 during midday trading on Friday, reaching $430.38. 127,961 shares of the stock were exchanged, compared to its average volume of 471,966. 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 company has a market capitalization of $42.75 billion, a P/E ratio of 14.65, a PEG ratio of 0.74 and a beta of 1.36. Ameriprise Financial has a 52 week low of $306.63 and a 52 week high of $446.32. The company’s 50 day moving average is $428.10 and its two-hundred day moving average is $409.75.

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. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the business posted $7.25 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ameriprise Financial will post 34.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred 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 owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. Norges Bank acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at $514,539,000. Dimensional Fund Advisors LP grew its stake in shares of Ameriprise Financial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,015,225 shares of the financial services provider’s stock valued at $385,620,000 after buying an additional 35,931 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Ameriprise Financial by 2.4% in the third quarter. Royal Bank of Canada now owns 894,744 shares of the financial services provider’s stock valued at $294,979,000 after buying an additional 20,970 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Ameriprise Financial by 18.8% in the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after buying an additional 111,973 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.