Keefe, Bruyette & Woods Cuts Ameriprise Financial (NYSE:AMP) Price Target to $560.00

Ameriprise Financial (NYSE:AMP) had its price target decreased by stock analysts at 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 objective would indicate a potential upside of 5.96% from the stock’s current price.

A number of other analysts have also commented on AMP. Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a report on Monday. One research 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.com, the stock presently has an average rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Down 1.2 %

Shares of NYSE:AMP opened at $528.49 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial has a 52-week low of $368.41 and a 52-week high of $577.00. The company has a market capitalization of $51.27 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. The company has a fifty day moving average of $548.38 and a 200-day moving average of $484.81.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated 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 approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

Large investors have recently added to or reduced their stakes in the business. One Wealth Capital Management LLC bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $372,000. Oliver Luxxe Assets LLC lifted its position in Ameriprise Financial by 19.0% in the fourth quarter. Oliver Luxxe Assets LLC now owns 1,202 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 192 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $204,000. Pensionfund Sabic grew its holdings in shares of Ameriprise Financial by 23.3% in the fourth quarter. Pensionfund Sabic now owns 3,700 shares of the financial services provider’s stock worth $1,970,000 after purchasing an additional 700 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Ameriprise Financial by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 36,118 shares of the financial services provider’s stock worth $19,232,000 after buying an additional 712 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.