Ameriprise Financial (NYSE:AMP) Rating Lowered to Neutral at The Goldman Sachs Group

Ameriprise Financial (NYSE:AMP) was downgraded by investment analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Thursday, MarketBeat reports. They presently have a $476.00 target price on the financial services provider’s stock, down from their previous target price of $485.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 2.79% from the company’s previous close.

AMP has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Finally, UBS Group decreased their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $463.00.

Ameriprise Financial Price Performance

NYSE:AMP opened at $463.10 on Thursday. Ameriprise Financial has a one year low of $306.63 and a one year high of $467.00. The stock has a market cap of $45.47 billion, a PE ratio of 15.76, a P/E/G ratio of 0.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50 day moving average price of $431.16 and a 200 day moving average price of $429.39.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $7.44 EPS. Equities research analysts expect that Ameriprise Financial will post 34.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently modified their holdings of AMP. Retirement Group LLC acquired a new position in Ameriprise Financial during the 1st quarter worth $25,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the second quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in Ameriprise Financial in the first quarter worth approximately $28,000. Finally, Mascoma Wealth Management LLC grew its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds 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.