Royal Bank of Canada Reaffirms Outperform Rating for Ameriprise Financial

Ameriprise Financial (NYSE:AMP) received an "outperform" rating from analysts at Royal Bank of Canada, which was reaffirmed in a report released on Monday. The report set a price target of $625.00 for the stock, suggesting that it has the potential for a 12.80% upside compared to its previous closing price.

In addition to Royal Bank of Canada, various other research firms have shared their insights regarding Ameriprise Financial's stock. UBS Group modified their rating from "buy" to "neutral" and adjusted their price target from $580.00 down to $570.00 early this month. Keefe, Bruyette & Woods also changed their stance by reducing their price target from $565.00 to $560.00 while maintaining a "market perform" rating.

Furthermore, Morgan Stanley raised their price target significantly from $440.00 to $502.00, rating the company as "equal weight." Current evaluations show that one analyst has given a sell rating, while six analysts rated the stock as a hold and three analysts recommended it as a buy. According to MarketBeat.com, the average rating for Ameriprise Financial stands at "Hold" with an average price target calculated at around $503.22.

Current Stock Performance

As of Monday, shares of Ameriprise Financial saw a decrease of 1.7%, trading down to $554.09 per share. During the trading session, 142,872 shares changed hands, which falls short of the average trading volume of 438,261 shares. The stock has fluctuated over the past year, reaching a low of $378.05 and a high of $577.00. Ameriprise Financial currently holds a market capitalization of $53.75 billion, a price-to-earnings ratio of 21.27, and a PEG ratio of 0.85.

The company reported a debt-to-equity ratio of 0.99, as well as a current and quick ratio of 0.65. Recent stock movements are visible with a 50-day simple moving average of $548.23 and a 200-day simple moving average of $494.21.

Insider Activity

In recent activities involving company insiders, Joseph Edward Sweeney sold 10,735 shares of Ameriprise's stock on November 8, receiving an average price of $549.68 per share, amounting to a total value of $5,900,814.80. Following this transaction, he holds 5,811 shares valued at about $3,194,190.48, which reflects a 64.88% reduction in his holdings.

Another insider, CFO Walter Stanley Berman, sold 8,655 shares of Ameriprise Financial on November 11, at an average price of $564.16, totaling approximately $4,882,804.80. Following this sale, Berman now owns 6,409 shares valued at around $3,615,701.44, indicating a 57.45% decrease in his stakes. In the previous quarter, a combined total of 21,715 shares were sold by insiders valued at $11,983,436, with corporate insiders holding around 0.73% of the outstanding shares.

Institutional Investment Trends

Recently, several institutional investors have adjusted their stakes in Ameriprise Financial. Oakworth Capital Inc. acquired a new position during the third quarter amounting to $31,000. Meanwhile, Country Trust Bank substantially increased its holdings by 213.6% during the same period, now owning a total of 69 shares valued at $32,000 following the purchase of an additional 47 shares.

Sound Income Strategies LLC also entered a new position valued at roughly $36,000, while Peterson Financial Group Inc. purchased approximately $45,000 worth of shares in the third quarter. Albion Financial Group UT also acquired a new stake in the fourth quarter, investing about $46,000. Currently, approximately 83.95% of Ameriprise Financial's stock is owned by institutional investors.

Company Overview

Ameriprise Financial, Inc., together with its subsidiaries, offers a range of financial products and services to both individual and institutional clients in the United States and internationally. The company operates through four main segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Ameriprise, Financial, Rating