Morgan Stanley Issues Pessimistic Forecast for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMP) had its target price decreased by investment analysts at Morgan Stanley from $485.00 to $452.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 1.24% from the stock’s current price.

Several other analysts have also recently issued reports on AMP. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a research note on Tuesday, March 3rd. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Jefferies Financial Group boosted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Piper Sandler lowered their price objective on shares of Ameriprise Financial from $530.00 to $460.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $544.22.

Ameriprise Financial Stock Down 1.4%

AMP stock opened at $446.48 on Friday. The stock has a market capitalization of $40.71 billion, a P/E ratio of 12.28, a PEG ratio of 1.08 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. Ameriprise Financial has a one year low of $422.37 and a one year high of $550.18. The company has a 50 day moving average price of $465.46 and a two-hundred day moving average price of $476.68.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. The firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. Ameriprise Financial’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $9.54 EPS. As a group, sell-side analysts expect that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 16,658 shares of company stock worth $8,998,675. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AMP. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 22 shares in the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $30,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at $32,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Ameriprise Financial during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Ameriprise Financial

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.