Ameriprise Financial Receives Outperform Rating from Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) saw its stock maintain an "outperform" rating from analysts at Royal Bank of Canada in a report published on Monday. They have set a target price of $625.00 for the shares of this financial services company. This target suggests a potential increase of 12.80% from the stock's closing price prior to the report.

In addition to Royal Bank of Canada, multiple other analysts have provided their insights on Ameriprise Financial recently. UBS Group downgraded the stock from a "buy" to a "neutral" rating on January 6th, lowering their price target from $580.00 to $570.00. Furthermore, on January 10th, Keefe, Bruyette & Woods reduced their price target from $565.00 to $560.00 and assigned a "market perform" rating. Meanwhile, Morgan Stanley upgraded their price target significantly from $440.00 to $502.00 and classified the stock with an "equal weight" rating on October 17th. Overall, one analyst has issued a sell rating, six analysts have a hold rating, and three have given a buy rating. According to MarketBeat.com, the average recommendation for Ameriprise Financial is currently rated as "Hold" with an average target price of $503.22.

Current Stock Performance

On the trading front, shares of Ameriprise Financial were down by 1.7% during midday trading on Monday, with the stock falling $9.49 to reach $554.09. The trading volume was recorded at 142,872 shares, which is below the average volume of 438,261 shares. Over the past year, the stock price has ranged from a low of $378.05 to a high of $577.00. The company's market capitalization stands at approximately $53.75 billion. Its price-to-earnings ratio is 21.27, with a price-to-earnings-to-growth ratio of 0.85 and a beta of 1.36. Ameriprise Financial maintains a 50-day simple moving average of $548.23 and a 200-day average of $494.21. The firm has a debt-to-equity ratio of 0.99, with both its current and quick ratios at 0.65.

Insider Trading Activity

In related news, insider Joseph Edward Sweeney has recently sold 10,735 shares of the company's stock on November 8th, fetching an average price of $549.68 per share, amounting to a total of $5,900,814.80. After this transaction, Sweeney's remaining shares fell to 5,811, which are now valued at approximately $3,194,190.48, marking a 64.88% decrease in his position. This sale was documented and made available through the Securities & Exchange Commission. Additionally, CFO Walter Stanley Berman sold 8,655 shares on November 11th, averaging $564.16 per share for a total of $4,882,804.80. Post-sale, he owns 6,409 shares valued at around $3,615,701.44, reflecting a 57.45% reduction in his holdings. Over the last quarter, insiders have sold a collective total of 21,715 shares valued at $11,983,436. Presently, insiders hold about 0.73% of the company's stock.

Institutional Investor Activities

Recently, several institutional investors have adjusted their stock positions in Ameriprise Financial. For instance, Oakworth Capital Inc. acquired a new stake worth $31,000 in the third quarter. Country Trust Bank significantly increased its holdings by 213.6% in the same quarter, now owning 69 shares after adding 47 shares. Sound Income Strategies LLC also took a new position valued at approximately $36,000 in the fourth quarter. Peterson Financial Group Inc. bought a new stake valued at about $45,000 in the third quarter. In total, institutional investors hold approximately 83.95% of the company's stock.

Company Overview

Ameriprise Financial, Inc. offers a wide array of financial products and services to both individual and institutional clients across the United States and global markets. The company operates through four main segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Ameriprise, Finance, Stock