Ameriprise Financial (NYSE:AMP) Cut to Neutral at UBS Group

Ameriprise Financial (NYSE:AMP) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a report issued on Monday,Finviz reports. They currently have a $570.00 target price on the financial services provider’s stock, down from their previous target price of $580.00. UBS Group’s target price indicates a potential upside of 6.38% from the company’s current price.

A number of other analysts have also commented on the stock. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $489.33.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $535.84 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $51.98 billion, a PE ratio of 20.57, a PEG ratio of 0.96 and a beta of 1.34. Ameriprise Financial has a 52 week low of $368.41 and a 52 week high of $577.00. The stock’s fifty day moving average is $546.91 and its 200-day moving average is $482.88.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 over the last quarter. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the period. Maj Invest Holding A S bought a new stake in Ameriprise Financial during the 3rd quarter worth approximately $98,742,000. The Manufacturers Life Insurance Company lifted its position in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares in the last quarter. AGF Management Ltd. increased its position in shares of Ameriprise Financial by 35.4% during the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares during the period. 83.95% of the stock is owned by 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.