Morgan Stanley Boosts Ameriprise Financial (NYSE:AMP) Price Target to $502.00

Ameriprise Financial (NYSE:AMP) had its price target boosted by analysts at Morgan Stanley from $440.00 to $502.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 4.03% from the company’s previous close.

Other equities research analysts have also issued reports about the company. UBS Group upped their price target on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $480.44.

Ameriprise Financial Price Performance

Shares of NYSE:AMP traded up $5.51 on Thursday, hitting $523.08. The company had a trading volume of 36,167 shares, compared to its average volume of 470,158. The company has a market cap of $51.95 billion, a PE ratio of 17.74, a PEG ratio of 0.81 and a beta of 1.35. The business has a 50 day moving average of $452.81 and a 200 day moving average of $435.99. Ameriprise Financial has a 52-week low of $306.63 and a 52-week high of $523.08. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.44 earnings per share. As a group, equities analysts anticipate that Ameriprise Financial will post 34.92 earnings per share for the current fiscal year.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the transaction, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Ameriprise Financial by 11.4% during the 4th quarter. Wellington Management Group LLP now owns 6,158 shares of the financial services provider’s stock worth $2,339,000 after buying an additional 630 shares during the last quarter. Nomura Holdings Inc. bought a new position in Ameriprise Financial during the 4th quarter worth approximately $775,000. Los Angeles Capital Management LLC lifted its holdings in Ameriprise Financial by 10.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 702 shares of the financial services provider’s stock worth $308,000 after buying an additional 67 shares during the last quarter. Wedmont Private Capital lifted its holdings in Ameriprise Financial by 5.9% during the 1st quarter. Wedmont Private Capital now owns 3,385 shares of the financial services provider’s stock worth $1,454,000 after buying an additional 189 shares during the last quarter. Finally, American National Bank lifted its holdings in Ameriprise Financial by 116.3% during the 1st quarter. American National Bank now owns 106 shares of the financial services provider’s stock worth $46,000 after buying an additional 57 shares during the last quarter. 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.