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

Ameriprise Financial (NYSE:AMP) had its price target upped by equities researchers at Morgan Stanley from $507.00 to $542.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.60% from the company’s current price.

A number of other brokerages have also commented on AMP. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, Piper Sandler upped their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $514.89.

Ameriprise Financial Stock Performance

NYSE:AMP traded down $28.19 during mid-day trading on Tuesday, hitting $503.73. 97,490 shares of the company’s stock traded hands, compared to its average volume of 523,117. The firm has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. The firm has a 50 day moving average of $539.80 and a two-hundred day moving average of $516.28. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, equities analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Insider Activity

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at approximately $3,901,249.59. The trade was a 39.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,636 shares of company stock worth $6,263,989 over the last quarter. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of Ameriprise Financial

Several large investors have recently made changes to their positions in the company. TCTC Holdings LLC bought a new stake in Ameriprise Financial during the 4th quarter worth $26,000. University of Texas Texas AM Investment Management Co. bought a new position in Ameriprise Financial in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth about $28,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $30,000. 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.