Ameriprise Financial Rated 'Outperform' by Royal Bank of Canada

Ameriprise Financial (NYSE:AMP) received an "outperform" rating from analysts at the Royal Bank of Canada in a report released on Monday. The analysts set a price target of $625.00 for Ameriprise Financial's shares, indicating a potential upside of 12.80% from the stock's previous closing price. This reiteration of the rating reflects confidence in the company's performance in the financial services sector.

Recently, several other research firms have also provided insights regarding Ameriprise's stock. For instance, on January 6th, UBS Group downgraded Ameriprise from a "buy" rating to a "neutral" rating, while also lowering their price target from $580.00 to $570.00. Similarly, on January 10th, Keefe, Bruyette & Woods reduced their price target from $565.00 to $560.00, labeling it as a "market perform." On October 17th, Morgan Stanley raised their price target on Ameriprise shares from $440.00 to $502.00, maintaining an "equal weight" rating. Overall, one analyst rated the stock as a sell, six assigned a hold rating, and three categorized it as a buy. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $503.22.

Current Stock Performance

On Monday, shares of Ameriprise Financial experienced a slight drop of 1.7%, trading down $9.49 to reach $554.09. A total of 142,872 shares exchanged hands during the day, compared to the average volume of 438,261 shares. The stock has witnessed a 52-week low of $378.05 and a high of $577.00. With a market capitalization of $53.75 billion, Ameriprise has a price-to-earnings (P/E) ratio of 21.27, a price/earnings to growth (PEG) ratio of 0.85, and a beta of 1.36. The company's moving averages are currently at 50-day simple moving average of $548.23 and a 200-day simple moving average of $494.21.

Insider Trading Activities

In recent insider trading activities, Joseph Edward Sweeney, an insider, sold 10,735 shares of Ameriprise's stock on November 8th at an average price of $549.68, totaling approximately $5.9 million. Following this sale, he now retains ownership of 5,811 shares. Additionally, CFO Walter Stanley Berman sold 8,655 shares on November 11th at an average price of $564.16, amounting to roughly $4.88 million. After this transaction, he holds 6,409 shares. Altogether, insiders offloaded 21,715 shares worth about $12 million in the last quarter. Currently, corporate insiders own about 0.73% of the company's stock.

Institutional Investor Actions

Numerous institutional investors have recently adjusted their positions in Ameriprise Financial. For example, Oakworth Capital Inc. acquired a new stake in the company during the third quarter, valued at $31,000. Country Trust Bank increased its stake significantly by 213.6% during the same period, now owning 69 shares worth $32,000. Additionally, Sound Income Strategies LLC and Peterson Financial Group Inc. each bought new positions valued at around $36,000 and $45,000, respectively. Institutional investors collectively hold approximately 83.95% of Ameriprise's stock.

Overview of Ameriprise Financial

Ameriprise Financial, Inc. operates through various subsidiaries, providing a wide range of financial products and services to individual and institutional clients, both in the United States and internationally. The company's operations are divided into four main segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Ameriprise, Financial, Bank