Morgan Stanley Boosts Ameriprise Financial (NYSE:AMP) Price Target to $542.00

Ameriprise Financial (NYSE:AMP) had its price objective raised by stock analysts at Morgan Stanley from $507.00 to $542.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 6.36% from the company’s current price.

AMP has been the topic of a number of other research reports. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $514.89.

Ameriprise Financial Trading Up 2.3 %

Shares of Ameriprise Financial stock opened at $509.57 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial has a 12-month low of $385.74 and a 12-month high of $582.05. The firm has a market capitalization of $48.98 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.15 and a beta of 1.36. The firm’s 50 day simple moving average is $538.39 and its two-hundred day simple moving average is $516.69.

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

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on 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 directly 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. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMP. Howard Capital Management Group LLC lifted its stake in shares of Ameriprise Financial by 11.1% in the third quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after buying an additional 178 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of Ameriprise Financial by 4.6% in the third quarter. Stephens Inc. AR now owns 2,145 shares of the financial services provider’s stock worth $1,008,000 after buying an additional 94 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Ameriprise Financial by 10.6% in the third quarter. Farther Finance Advisors LLC now owns 977 shares of the financial services provider’s stock worth $459,000 after buying an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Ameriprise Financial in the third quarter worth about $219,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Ameriprise Financial by 26.4% in the third quarter. Janney Montgomery Scott LLC now owns 25,243 shares of the financial services provider’s stock worth $11,859,000 after buying an additional 5,271 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.