Keefe, Bruyette & Woods Issues Pessimistic Forecast for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMP) had its target price cut by Keefe, Bruyette & Woods from $565.00 to $560.00 in a report released on Friday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 8.43% from the stock’s current price.

AMP has been the subject of a number of other research reports. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada increased their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $494.89.

Ameriprise Financial Trading Down 3.5 %

Shares of AMP opened at $516.44 on Friday. The firm has a market capitalization of $50.10 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.96 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial has a 1-year low of $368.41 and a 1-year high of $577.00. The company has a 50-day moving average of $548.56 and a 200 day moving average of $485.67.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock worth $11,983,436 over the last quarter. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several institutional investors have recently added to or reduced their stakes in AMP. Acadian Asset Management LLC boosted its stake in Ameriprise Financial by 3,086.6% in the 2nd quarter. Acadian Asset Management LLC now owns 3,569 shares of the financial services provider’s stock worth $1,523,000 after purchasing an additional 3,457 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Ameriprise Financial during the second quarter worth $81,000. Prudential PLC grew its holdings in shares of Ameriprise Financial by 52.4% during the second quarter. Prudential PLC now owns 1,817 shares of the financial services provider’s stock valued at $776,000 after buying an additional 625 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Ameriprise Financial by 2.7% in the 2nd quarter. Wedbush Securities Inc. now owns 1,476 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 39 shares during the period. Finally, MGO One Seven LLC raised its stake in Ameriprise Financial by 195.6% in the 2nd quarter. MGO One Seven LLC now owns 3,222 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 2,132 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.