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

Ameriprise Financial (NYSE:AMP) had its target price trimmed by Morgan Stanley from $444.00 to $440.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada increased their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $460.00 to $470.00 and gave the company a market perform rating in a report on Monday, July 8th. 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. Piper Sandler lowered their price target on Ameriprise Financial from $390.00 to $387.00 and set an underweight rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI raised their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an in-line rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of Hold and an average target price of $464.33.

Ameriprise Financial Stock Down 2.7 %

AMP stock opened at $418.36 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. The company has a market capitalization of $41.55 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.75 and a beta of 1.37. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The stock has a fifty day moving average of $431.40 and a 200-day moving average of $419.07.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. The company 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 firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.44 EPS. As a group, equities research analysts predict that Ameriprise Financial will post 34.77 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insider Transactions at Ameriprise Financial

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

Institutional Trading of Ameriprise Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Portside Wealth Group LLC raised its position in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 25 shares during the period. Signaturefd LLC boosted its holdings in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the period. Aua Capital Management LLC increased its stake in Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after buying an additional 27 shares in the last quarter. Gratus Wealth Advisors LLC raised its holdings in Ameriprise Financial by 1.5% during the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 27 shares during the period. Finally, Drive Wealth Management LLC lifted its position in shares of Ameriprise Financial by 3.1% in the second quarter. Drive Wealth Management LLC now owns 909 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors 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.