Ameriprise Financial, Inc. (NYSE:AMP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been assigned a consensus rating of “Hold” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $539.50.

A number of brokerages recently commented on AMP. Evercore ISI lowered their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Finally, William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th.

Ameriprise Financial Stock Up 0.0%

Shares of NYSE:AMP opened at $484.67 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial has a 12 month low of $396.14 and a 12 month high of $582.05. The company has a 50-day moving average price of $493.54 and a 200 day moving average price of $503.32. The company has a market cap of $45.69 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.08 and a beta of 1.26.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors have recently modified their holdings of the stock. Pinnacle Financial Partners Inc increased its position in shares of Ameriprise Financial by 2.7% during the third quarter. Pinnacle Financial Partners Inc now owns 1,259 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 33 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in Ameriprise Financial by 1.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 5,762 shares of the financial services provider’s stock worth $2,831,000 after buying an additional 98 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Ameriprise Financial by 178.8% in the third quarter. Campbell & CO Investment Adviser LLC now owns 5,814 shares of the financial services provider’s stock worth $2,856,000 after buying an additional 3,729 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Ameriprise Financial by 0.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,269 shares of the financial services provider’s stock worth $2,588,000 after buying an additional 41 shares in the last quarter. Finally, Eastern Bank raised its stake in Ameriprise Financial by 4.5% in the third quarter. Eastern Bank now owns 1,317 shares of the financial services provider’s stock worth $647,000 after buying an additional 57 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

About Ameriprise Financial

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.