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

Ameriprise Financial (NYSE:AMP) had its price objective decreased by Keefe, Bruyette & Woods from $550.00 to $530.00 in a report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on AMP. Evercore ISI cut their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Morgan Stanley cut their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada cut their price target on Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $530.63.

Ameriprise Financial Stock Performance

AMP opened at $459.16 on Monday. The firm has a market capitalization of $43.29 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The stock’s 50 day moving average price is $487.04 and its two-hundred day moving average price is $502.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial has a 12-month low of $396.14 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.76 by $0.16. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $9.02 EPS. On average, equities analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, November 10th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.55%.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its position in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock valued at $413,000 after buying an additional 50 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Ameriprise Financial by 6.5% during the 1st quarter. D.A. Davidson & CO. now owns 4,421 shares of the financial services provider’s stock worth $2,140,000 after purchasing an additional 268 shares in the last quarter. Strategic Blueprint LLC increased its holdings in Ameriprise Financial by 32.0% during the 1st quarter. Strategic Blueprint LLC now owns 565 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 137 shares in the last quarter. World Investment Advisors increased its holdings in Ameriprise Financial by 1.7% during the 1st quarter. World Investment Advisors now owns 1,654 shares of the financial services provider’s stock worth $800,000 after purchasing an additional 27 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Ameriprise Financial by 5.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 668 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 32 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

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.