Keefe, Bruyette & Woods Lowers Ameriprise Financial (NYSE:AMP) Price Target to $520.00

Ameriprise Financial (NYSE:AMP) had its price target decreased by equities researchers at Keefe, Bruyette & Woods from $570.00 to $520.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 13.86% from the company’s previous close.

Several other research firms also recently commented on AMP. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Raymond James upgraded Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research report on Monday. Piper Sandler increased their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $510.20.

Ameriprise Financial Trading Down 3.4 %

Shares of AMP stock opened at $456.70 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day simple moving average of $502.39 and a two-hundred day simple moving average of $523.02. The firm has a market capitalization of $43.90 billion, a PE ratio of 13.81, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, analysts predict that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the completion of the sale, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

A number of large investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the fourth quarter worth $26,000. TCTC Holdings LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at about $28,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Ameriprise Financial in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors 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.