Ameriprise Financial (NYSE:AMP) PT Lowered to $350.00 at UBS Group

Ameriprise Financial (NYSE:AMPGet Rating) had its price target dropped by investment analysts at UBS Group from $360.00 to $350.00 in a research report issued to clients and investors on Tuesday, The Fly reports. UBS Group’s price target would suggest a potential upside of 24.57% from the stock’s current price.

AMP has been the subject of a number of other research reports. Morgan Stanley reduced their price objective on Ameriprise Financial from $338.00 to $335.00 and set an “equal weight” rating for the company in a research note on Friday, April 8th. Evercore ISI raised Ameriprise Financial from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $305.00 to $362.00 in a report on Wednesday, January 5th. StockNews.com started coverage on Ameriprise Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Piper Sandler lowered Ameriprise Financial from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $325.00 to $310.00 in a report on Wednesday, April 6th. Finally, The Goldman Sachs Group boosted their target price on Ameriprise Financial from $350.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Buy” and a consensus price target of $338.55.

Shares of NYSE AMP opened at $280.96 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.88. Ameriprise Financial has a twelve month low of $236.35 and a twelve month high of $332.37. The stock has a 50 day moving average of $293.23 and a two-hundred day moving average of $299.63. The stock has a market cap of $31.07 billion, a P/E ratio of 12.18 and a beta of 1.51.

Ameriprise Financial (NYSE:AMPGet Rating) last issued its quarterly earnings data on Monday, April 25th. The financial services provider reported $5.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.88 by $0.10. Ameriprise Financial had a return on equity of 48.36% and a net margin of 20.55%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $5.43 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial will post 25.56 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, January 26th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other Ameriprise Financial news, CEO William F. Truscott sold 16,000 shares of the business’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $305.09, for a total transaction of $4,881,440.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Karen Wilson Thissen sold 6,444 shares of the business’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $313.88, for a total value of $2,022,642.72. The disclosure for this sale can be found here. Insiders have sold 103,106 shares of company stock worth $32,258,469 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Mascoma Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $29,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $32,000. Equitec Proprietary Markets LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $33,000. Confluence Wealth Services Inc. purchased a new position in Ameriprise Financial during the fourth quarter worth about $39,000. Finally, KRS Capital Management LLC purchased a new position in Ameriprise Financial during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 80.53% of the company’s stock.

Ameriprise Financial Company Profile (Get Rating)

Ameriprise Financial, Inc, through 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.

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