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

Ameriprise Financial (NYSE:AMP - Get Free Report) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $570.00 to $520.00 in a research note issued 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 suggest a potential upside of 9.51% from the company's previous close.

Several other brokerages also recently issued reports on AMP. Raymond James raised shares of 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, April 7th. Piper Sandler raised their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Royal Bank of Canada restated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley boosted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Finally, UBS Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $517.44.

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Ameriprise Financial Trading Up 1.3 %

NYSE AMP traded up $6.06 during mid-day trading on Wednesday, hitting $474.83. The company's stock had a trading volume of 149,394 shares, compared to its average volume of 494,604. The firm has a market capitalization of $45.64 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. 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 has a 52-week low of $385.74 and a 52-week high of $582.05. The stock's fifty day simple moving average is $501.06 and its two-hundred day simple moving average is $523.45.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 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%. Research analysts expect that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial 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 transaction, the chief executive officer now directly owns 14,023 shares in the company, valued at $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the sale, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock worth $6,263,989 over the last 90 days. Insiders own 0.73% of the company's stock.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC grew its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Park Avenue Securities LLC now owns 22,023 shares of the financial services provider's stock worth $10,661,000 after purchasing an additional 232 shares in the last quarter. Miracle Mile Advisors LLC grew its position in Ameriprise Financial by 39.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,489 shares of the financial services provider's stock valued at $721,000 after buying an additional 424 shares in the last quarter. UMB Bank n.a. increased its stake in Ameriprise Financial by 2.1% during the 1st quarter. UMB Bank n.a. now owns 3,163 shares of the financial services provider's stock valued at $1,531,000 after buying an additional 65 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth about $248,000. Finally, Gateway Investment Advisers LLC lifted its stake in shares of Ameriprise Financial by 5.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 2,181 shares of the financial services provider's stock worth $1,056,000 after acquiring an additional 110 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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.