Ameriprise Financial (NYSE:AMP) Price Target Lowered to $440.00 at Morgan Stanley

Ameriprise Financial (NYSE:AMP) had its target price decreased by research analysts at Morgan Stanley from $444.00 to $440.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 1.71% from the company’s previous close.

A number of other research firms have also weighed in on AMP. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $460.00 to $470.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. UBS Group dropped their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Argus raised their price target on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a 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 $463.22.

Ameriprise Financial Stock Down 1.6 %

AMP stock traded down $6.95 during midday trading on Monday, reaching $432.59. 121,050 shares of the company’s stock traded hands, compared to its average volume of 487,048. Ameriprise Financial has a 52 week low of $306.63 and a 52 week high of $449.94. The company has a market cap of $42.96 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.69 and a beta of 1.37. The firm’s fifty day moving average price is $431.95 and its 200-day moving average price is $418.23. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.44 EPS. As a group, sell-side analysts forecast that Ameriprise Financial will post 34.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

A number of hedge funds have recently added to or reduced their stakes in AMP. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ameriprise Financial by 14.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,245 shares of the financial services provider’s stock worth $28,726,000 after purchasing an additional 8,419 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in shares of Ameriprise Financial by 11.1% during the second quarter. Ameritas Advisory Services LLC now owns 621 shares of the financial services provider’s stock valued at $265,000 after buying an additional 62 shares during the period. Bfsg LLC grew its stake in shares of Ameriprise Financial by 111.6% during the second quarter. Bfsg LLC now owns 3,957 shares of the financial services provider’s stock valued at $1,690,000 after buying an additional 2,087 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Ameriprise Financial by 33.1% during the second quarter. Arkadios Wealth Advisors now owns 1,219 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 303 shares during the period. Finally, Burney Co. boosted its position in Ameriprise Financial by 11.8% in the 2nd quarter. Burney Co. now owns 10,105 shares of the financial services provider’s stock valued at $4,317,000 after buying an additional 1,068 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

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.