Ameriprise Financial (NYSE:AMP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Ameriprise Financial (NYSE:AMP) had its price target upped by equities researchers at Morgan Stanley from $467.00 to $489.00 in a research report issued to clients and investors on Friday,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 3.42% from the company’s current price.

A number of other research analysts also recently weighed in on AMP. Keefe, Bruyette & Woods started coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating for the company. Weiss Ratings cut Ameriprise Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Piper Sandler increased their price objective on Ameriprise Financial from $460.00 to $471.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, BMO Capital Markets raised their target price on shares of Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $548.44.

Ameriprise Financial Trading Up 1.2%

Shares of NYSE:AMP opened at $506.34 on Friday. The company’s 50-day moving average price is $464.27 and its two-hundred day moving average price is $472.73. Ameriprise Financial has a one year low of $422.37 and a one year high of $550.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $45.52 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.03 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.Ameriprise Financial’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $9.50 EPS. On average, equities analysts forecast that Ameriprise Financial will post 43.01 EPS for the current fiscal year.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $472.52, for a total value of $2,955,612.60. Following the transaction, the executive vice president directly owned 6,103 shares of the company’s stock, valued at $2,883,789.56. This represents a 50.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $465.83, for a total transaction of $558,996.00. Following the sale, the director owned 6,300 shares of the company’s stock, valued at $2,934,729. This trade represents a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after purchasing an additional 10,782 shares during the period. Pensionfund Sabic bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $1,471,000. KBC Group NV boosted its holdings in shares of Ameriprise Financial by 12.2% in the 4th quarter. KBC Group NV now owns 150,606 shares of the financial services provider’s stock worth $73,848,000 after buying an additional 16,433 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Ameriprise Financial by 1.3% in the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock worth $133,381,000 after buying an additional 3,548 shares during the last quarter. Finally, National Pension Service grew its position in Ameriprise Financial by 8.2% during the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after buying an additional 12,563 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

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.