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

Ameriprise Financial (NYSE:AMP) had its price objective upped by equities research analysts at Jefferies Financial Group from $500.00 to $504.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 17.11% from the company’s previous close.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Raymond James began coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Argus boosted 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. Finally, Evercore ISI boosted 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $456.22.

Ameriprise Financial Stock Up 0.0 %

Shares of NYSE:AMP traded up $0.04 during midday trading on Friday, hitting $430.38. 127,961 shares of the company’s stock traded hands, compared to its average volume of 471,966. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $42.75 billion, a PE ratio of 14.65, a P/E/G ratio of 0.74 and a beta of 1.36. The firm’s fifty day moving average price is $428.10 and its two-hundred day moving average price is $409.75. Ameriprise Financial has a twelve month low of $306.63 and a twelve month high of $446.32.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the business posted $7.25 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial will post 34.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Retirement Group LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth $28,000. Annapolis Financial Services LLC increased its stake in shares of Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 65 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth $32,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Ameriprise Financial during the 1st quarter worth $34,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Ameriprise Financial

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.