Keefe, Bruyette & Woods Has Lowered Expectations for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMP) had its price target lowered by Keefe, Bruyette & Woods from $570.00 to $520.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on AMP. Raymond James upgraded shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price target on the stock in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $510.20.

Ameriprise Financial Stock Performance

NYSE AMP traded down $16.18 during trading hours on Wednesday, reaching $456.82. The company’s stock had a trading volume of 243,100 shares, compared to its average volume of 493,335. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The business has a 50-day simple moving average of $504.01 and a 200 day simple moving average of $523.06. Ameriprise Financial has a 52 week low of $385.74 and a 52 week high of $582.05. The stock has a market cap of $43.91 billion, a PE ratio of 13.70, a PEG ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Equities research analysts predict that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 17.91%.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $5,231,200. The trade was a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Apella Capital LLC grew its holdings in Ameriprise Financial by 4.1% during the 1st quarter. Apella Capital LLC now owns 581 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 23 shares during the period. Bremer Bank National Association boosted its position in shares of Ameriprise Financial by 5.8% in the 1st quarter. Bremer Bank National Association now owns 16,224 shares of the financial services provider’s stock worth $7,854,000 after purchasing an additional 890 shares during the last quarter. Unigestion Holding SA grew its stake in shares of Ameriprise Financial by 151.7% during the first quarter. Unigestion Holding SA now owns 8,617 shares of the financial services provider’s stock worth $4,172,000 after purchasing an additional 5,193 shares during the period. Merit Financial Group LLC increased its holdings in Ameriprise Financial by 118.2% in the first quarter. Merit Financial Group LLC now owns 3,866 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 2,094 shares during the last quarter. Finally, NBC Securities Inc. lifted its stake in Ameriprise Financial by 142,200.0% in the first quarter. NBC Securities Inc. now owns 1,423 shares of the financial services provider’s stock valued at $688,000 after buying an additional 1,422 shares during the period. 83.95% of the stock is owned by institutional investors.

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.