Ameriprise Financial (NYSE:AMP) PT Lowered to $387.00

Ameriprise Financial (NYSE:AMP) had its price objective reduced by equities researchers at Piper Sandler from $390.00 to $387.00 in a report released on Friday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential downside of 9.41% from the stock’s current price.

A number of other research firms also recently issued reports on AMP. Argus boosted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Evercore ISI lifted their price objective on shares of 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 given a buy rating to the company. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $456.22.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $427.19 on Friday. The company’s 50 day simple moving average is $428.66 and its 200-day simple moving average is $410.60. The company has a market capitalization of $42.43 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. Ameriprise Financial has a 1 year low of $306.63 and a 1 year high of $446.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.25 EPS. As a group, equities research analysts expect that Ameriprise Financial will post 34.95 earnings per share for the current year.

Insiders Place Their Bets

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Retirement Group LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at $28,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at $32,000. Annapolis Financial Services LLC raised its position in Ameriprise Financial by 928.6% in the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 65 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 4th quarter valued at $34,000. 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.