Keefe, Bruyette & Woods Cuts Ameriprise Financial (NYSE:AMP) Price Target to $560.00

Ameriprise Financial (NYSE:AMP) had its price target cut by Keefe, Bruyette & Woods from $565.00 to $560.00 in a report released on Friday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada raised their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $516.44 on Friday. The firm has a market capitalization of $50.10 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. Ameriprise Financial has a one year low of $368.41 and a one year high of $577.00. The stock’s 50 day moving average price is $548.56 and its 200 day moving average price is $486.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock valued at $11,983,436. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMP. Oakworth Capital Inc. bought a new stake in shares of Ameriprise Financial in the 3rd quarter worth $31,000. Country Trust Bank raised its position in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 47 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial in the 3rd quarter valued at about $45,000. Trifecta Capital Advisors LLC boosted its position in shares of Ameriprise Financial by 31.4% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 33 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Ameriprise Financial by 240.5% in the 4th quarter. Versant Capital Management Inc now owns 143 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 101 shares during the last quarter. 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.