Ameriprise Financial (NYSE:AMP) Price Target Lowered to $460.00 at Piper Sandler

Ameriprise Financial (NYSE:AMP) had its price target lowered by investment analysts at Piper Sandler from $530.00 to $460.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 7.11% from the company’s current price.

Several other research analysts also recently weighed in on AMP. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Ameriprise Financial in a research report on Tuesday, March 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $547.89.

Ameriprise Financial Price Performance

NYSE:AMP traded down $0.95 on Tuesday, reaching $429.46. 357,177 shares of the company’s stock traded hands, compared to its average volume of 685,950. The stock has a 50-day simple moving average of $470.70 and a 200-day simple moving average of $477.87. Ameriprise Financial has a 12 month low of $418.54 and a 12 month high of $550.18. The firm has a market cap of $39.16 billion, a PE ratio of 11.81, a P/E/G ratio of 1.05 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the company posted $9.54 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Ameriprise Financial will post 38.64 earnings per share for the current year.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMP. Rexford Capital Inc. lifted its stake in shares of Ameriprise Financial by 20.6% in the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 21 shares during the last quarter. PFG Investments LLC increased its position in shares of Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 21 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in Ameriprise Financial by 3.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after buying an additional 21 shares during the period. EPG Wealth Management LLC raised its holdings in Ameriprise Financial by 0.8% during the 4th quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after buying an additional 21 shares during the period. Finally, Essex Financial Services Inc. lifted its position in Ameriprise Financial by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider’s stock worth $443,000 after buying an additional 21 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

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.