Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Recommendation of "Hold" from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) have earned an average recommendation of "Hold" from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $503.22.

AMP has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating for the company in a research report on Friday, January 10th. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th.

Ameriprise Financial Stock Performance

AMP traded down $2.61 during trading on Monday, hitting $560.97. 380,937 shares of the stock were exchanged, compared to its average volume of 454,148. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $54.42 billion, a P/E ratio of 21.53, a PEG ratio of 0.85 and a beta of 1.36. The stock has a fifty day moving average price of $548.23 and a two-hundred day moving average price of $494.21.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the firm's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company's stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Ameriprise Financial

Several hedge funds and other institutional investors have recently bought and sold shares of AMP. Argus Investors Counsel Inc. raised its position in Ameriprise Financial by 9.2% during the 4th quarter. Argus Investors Counsel Inc. now owns 620 shares of the financial services provider's stock worth $330,000 after purchasing an additional 52 shares during the last quarter. Adero Partners LLC raised its position in shares of Ameriprise Financial by 9.6% during the fourth quarter. Adero Partners LLC now owns 585 shares of the financial services provider's stock worth $311,000 after purchasing an additional 51 shares during the period. YANKCOM Partnership acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth about $2,395,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ameriprise Financial by 12.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,986 shares of the financial services provider's stock worth $11,176,000 after buying an additional 2,368 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its holdings in shares of Ameriprise Financial by 120.0% in the fourth quarter. Y.D. More Investments Ltd now owns 121 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 66 shares during the last quarter. 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.