Ameriprise Financial (NYSE:AMP) Price Target Cut to $520.00 by Analysts at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP) had its price target dropped by Keefe, Bruyette & Woods from $570.00 to $520.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 22.87% from the company’s previous close.

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

Ameriprise Financial Stock Down 0.7 %

NYSE AMP traded down $2.82 on Wednesday, reaching $423.21. The company had a trading volume of 113,411 shares, compared to its average volume of 490,708. The firm has a market capitalization of $40.68 billion, a PE ratio of 12.82, a P/E/G ratio of 1.15 and a beta of 1.23. The firm has a 50-day moving average of $506.87 and a 200-day moving average of $523.32. Ameriprise Financial has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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, equities research analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction 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 $7,576,486.67. This represents a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock worth $6,263,989 over the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds have recently made changes to their positions in the business. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $30,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.