Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High - Here's Why

Ameriprise Financial, Inc. (NYSE:AMP) achieved a remarkable milestone on Wednesday by reaching a new 52-week high, trading as high as $577.89 before closing at $576.60. This increase has drawn attention as the stock previously closed at $571.84, marking a notable rise.

Analysts Set New Price Targets

In light of the recent stock performance, several research analysts have been reevaluating their price targets for Ameriprise Financial. For instance, Morgan Stanley raised their price objective for the stock from $440.00 to $502.00, maintaining an 'equal weight' rating. UBS Group, however, downgraded the stock from a 'buy' to a 'neutral' rating, reducing their price target from $580.00 to $570.00. Royal Bank of Canada reaffirmed an 'outperform' rating and raised their price target to $625.00. Keefe, Bruyette & Woods adjusted their price target from $565.00 to $560.00, designating a 'market perform' rating for the company.

In total, one analyst holds a sell rating, six rate the stock as a hold, and three analysts have given it a buy rating. According to MarketBeat data, the consensus rating for Ameriprise Financial stands at 'Hold', with an average price target of $503.22.

Ameriprise Financial Stock Up 0.3%

The company has performed consistently, with a fifty-day moving average of $548.34 and a 200-day moving average of $495.95. The current market capitalization reaches approximately $55.63 billion, with a price-to-earnings ratio of 22.04 and a P/E/G ratio of 0.85. The company displays a beta of 1.36, a debt-to-equity ratio of 0.99, and a current ratio alongside a quick ratio of 0.65.

Insider Trading Activity

In the realm of insider trading, notable transactions were seen recently. Insider Joseph Edward Sweeney sold 10,735 shares on November 8 at an average price of $549.68, totaling roughly $5.9 million. This sale has led to a significant reduction in his ownership by 64.88%. Meanwhile, Gumer Alvero, another insider, sold 2,325 shares on October 31, also resulting in a decrease of 33.24% in his ownership, valued at around $1.2 million.

Over the last ninety days, insiders have sold a total of 21,715 shares amounting to nearly $12 million. Notably, insiders collectively hold about 0.73% of the company's stock.

Institutional Investor Movements

Recent activity among institutional investors has also been significant. Czech National Bank increased its holdings in Ameriprise Financial by 5.2%, now owning over 21,000 shares valued at $11.2 million. Bridgewater Associates made a striking increase of 97.8% in their position, acquiring 50,510 shares worth approximately $23.7 million. Other firms, including Empowered Funds LLC and SpiderRock Advisors LLC, also expanded their positions in the third quarter.

Currently, institutional investors hold around 83.95% of Ameriprise Financial stock, indicating strong institutional confidence in the company.

Company Overview

Ameriprise Financial, Inc. provides a diverse range of financial products and services to both individual and institutional clients, operating across four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Ameriprise, Stocks, Investment