Ameriprise Financial (NYSE:AMP) Price Target Lowered to $530.00 at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP) had its price objective decreased by equities researchers at Keefe, Bruyette & Woods from $550.00 to $530.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 16.72% from the stock’s previous close.

Several other brokerages have also recently issued reports on AMP. Evercore ISI reduced their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. BMO Capital Markets assumed coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 target price on the stock. Royal Bank Of Canada reduced their target price on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Finally, Raymond James Financial lifted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $530.63.

Ameriprise Financial Price Performance

Shares of AMP stock traded up $1.31 during trading hours on Monday, hitting $454.08. The stock had a trading volume of 226,970 shares, compared to its average volume of 512,594. Ameriprise Financial has a one year low of $396.14 and a one year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50-day moving average price is $490.69 and its two-hundred day moving average price is $503.34. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.07 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period in the previous year, the firm posted $9.02 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMP. Trust Co. of Vermont boosted its holdings in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the period. Plancorp LLC boosted its holdings in shares of Ameriprise Financial by 4.8% in the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors boosted its holdings in shares of Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in shares of Ameriprise Financial by 0.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after purchasing an additional 20 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.