Ameriprise Financial (NYSE:AMP) Given New $542.00 Price Target at Morgan Stanley

Ameriprise Financial (NYSE:AMP - Free Report) had its price target lifted by Morgan Stanley from $507.00 to $542.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

AMP has been the subject of several other research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Piper Sandler upped their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $514.89.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $11.40 during trading on Tuesday, reaching $509.57. The company's stock had a trading volume of 766,853 shares, compared to its average volume of 459,157. The business's 50-day moving average price is $538.39 and its 200-day moving average price is $516.69. The firm has a market cap of $48.98 billion, a PE ratio of 15.41, a P/E/G ratio of 1.15 and a beta of 1.36. Ameriprise Financial has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Equities analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's dividend payout ratio is currently 17.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company'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 value of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company's stock, valued at $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the completion of the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock valued at $6,263,989 over the last quarter. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geller Advisors LLC raised its stake in shares of Ameriprise Financial by 2.2% during the 3rd quarter. Geller Advisors LLC now owns 878 shares of the financial services provider's stock worth $412,000 after purchasing an additional 19 shares during the period. Cerro Pacific Wealth Advisors LLC raised its stake in shares of Ameriprise Financial by 3.4% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 576 shares of the financial services provider's stock worth $307,000 after purchasing an additional 19 shares during the period. Legacy Capital Wealth Partners LLC raised its stake in shares of Ameriprise Financial by 2.0% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider's stock worth $480,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Ameriprise Financial by 40.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock worth $37,000 after purchasing an additional 20 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in shares of Ameriprise Financial by 0.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,683 shares of the financial services provider's stock worth $1,419,000 after purchasing an additional 20 shares during the period. 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.