Morgan Stanley Forecasts Strong Price Appreciation for Ameriprise Financial (NYSE:AMP) Stock

Ameriprise Financial (NYSE:AMP) had its price target lifted by equities research analysts at Morgan Stanley from $452.00 to $467.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential downside of 0.05% from the company’s previous close.

Several other brokerages also recently weighed in on AMP. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Keefe, Bruyette & Woods began coverage on Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating for the company. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. BMO Capital Markets increased their price target on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Finally, Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $542.00.

Ameriprise Financial Price Performance

AMP stock opened at $467.24 on Thursday. The company has a market capitalization of $42.60 billion, a P/E ratio of 11.62, a PEG ratio of 1.15 and a beta of 1.20. Ameriprise Financial has a twelve month low of $422.37 and a twelve month high of $550.18. The business has a 50 day simple moving average of $454.79 and a 200-day simple moving average of $474.20. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, topping the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the company earned $9.50 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial will post 41.39 EPS for the current year.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the transaction, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 16,658 shares of company stock worth $8,998,675. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMP. AE Wealth Management LLC increased its position in shares of Ameriprise Financial by 104.2% in the third quarter. AE Wealth Management LLC now owns 3,962 shares of the financial services provider’s stock valued at $1,946,000 after buying an additional 2,022 shares in the last quarter. National Pension Service increased its position in shares of Ameriprise Financial by 4.6% in the third quarter. National Pension Service now owns 152,980 shares of the financial services provider’s stock valued at $75,151,000 after buying an additional 6,724 shares in the last quarter. Optimize Financial Inc purchased a new position in shares of Ameriprise Financial in the third quarter valued at $453,000. Arjuna Capital increased its position in shares of Ameriprise Financial by 14.6% in the third quarter. Arjuna Capital now owns 12,613 shares of the financial services provider’s stock valued at $6,196,000 after buying an additional 1,610 shares in the last quarter. Finally, Candriam S.C.A. increased its position in shares of Ameriprise Financial by 83.9% in the third quarter. Candriam S.C.A. now owns 63,839 shares of the financial services provider’s stock valued at $31,361,000 after buying an additional 29,116 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.