UBS Group Trims Ameriprise Financial (NYSE:AMP) Target Price to $495.00

Ameriprise Financial (NYSE:AMP) had its price target lowered by equities research analysts at UBS Group from $500.00 to $495.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. UBS Group’s target price points to a potential upside of 12.32% from the company’s current price.

A number of other equities research analysts have also recently weighed in on AMP. Evercore ISI boosted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Royal Bank of Canada boosted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised 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. Morgan Stanley boosted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $462.89.

Ameriprise Financial Price Performance

AMP stock opened at $440.69 on Tuesday. The business’s fifty day moving average price is $431.82 and its 200 day moving average price is $413.74. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $446.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $43.77 billion, a PE ratio of 15.00, a P/E/G ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate of $8.10 by $0.29. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. Ameriprise Financial’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $7.25 EPS. On average, sell-side analysts anticipate that Ameriprise Financial will post 34.92 EPS for the current year.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 26 shares during the last quarter. Aua Capital Management LLC raised its stake in Ameriprise Financial by 4.7% during the first quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 27 shares during the period. Gratus Wealth Advisors LLC lifted its holdings in Ameriprise Financial by 1.5% in the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 27 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in Ameriprise Financial by 4.7% in the first quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 28 shares during the last quarter. Finally, PDS Planning Inc boosted its stake in Ameriprise Financial by 3.7% in the first quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 28 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

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.