Keefe, Bruyette & Woods Issues Positive Forecast for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMP) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $515.00 to $545.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 3.68% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Ameriprise Financial from $636.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. BMO Capital Markets upped their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a report on Friday, July 10th. Finally, Piper Sandler boosted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $555.33.

Ameriprise Financial Stock Up 1.1%

Shares of Ameriprise Financial stock traded up $5.54 during midday trading on Friday, hitting $525.65. The company had a trading volume of 137,619 shares, compared to its average volume of 686,496. Ameriprise Financial has a 52-week low of $422.37 and a 52-week high of $550.18. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $47.26 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.94 and a beta of 1.16. The company has a 50 day moving average of $475.03 and a 200 day moving average of $474.65.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, topping the consensus estimate of $10.81 by $0.26. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the company posted $9.11 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Ameriprise Financial will post 43.74 earnings per share for the current fiscal year.

Insider Transactions at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total transaction of $558,996.00. Following the completion of the sale, the director directly owned 6,300 shares in the company, valued at approximately $2,934,729. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the transaction, the executive vice president owned 6,103 shares in the company, valued at $2,883,789.56. The trade was a 50.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Ameriprise Financial by 5.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after buying an additional 10,782 shares in the last quarter. KBC Group NV grew its stake in shares of Ameriprise Financial by 12.2% during the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock valued at $73,848,000 after acquiring an additional 16,433 shares during the period. National Pension Service grew its stake in shares of Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after acquiring an additional 12,563 shares during the period. LSV Asset Management increased its holdings in Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after acquiring an additional 3,548 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in Ameriprise Financial during the 4th quarter worth approximately $72,050,000. 83.95% of the stock is owned by institutional investors.

Key Stories Impacting Ameriprise Financial

Here are the key news stories impacting Ameriprise Financial this week:

• Positive Sentiment: Ameriprise reported Q2 earnings of $11.07 per share, ahead of consensus estimates, while revenue of $4.90 billion also topped forecasts. Ameriprise Financial earnings report
• Positive Sentiment: The company said revenue rose 11.6% year over year, helped by higher fee income and a market rally that lifted the value of fee-generating assets. Reuters article on Ameriprise profit rise
• Positive Sentiment: Management highlighted record levels of AUM and AUA, reinforcing momentum in Ameriprise’s wealth and asset management businesses. Zacks earnings commentary
• Neutral Sentiment: The board declared a quarterly dividend of $1.70 per share, signaling continued capital returns to shareholders. Dividend announcement
• Neutral Sentiment: Investors are also parsing the earnings call and presentation for clues on expense trends, since higher costs remain a key issue even after the strong quarter. Earnings call highlights

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.