Ameriprise Financial (NYSE:AMP) Stock Rating Lowered by UBS Group

Ameriprise Financial (NYSE:AMP) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Monday,Finviz reports. They presently have a $570.00 target price on the financial services provider’s stock, down from their prior target price of $580.00. UBS Group’s price target suggests a potential upside of 6.38% from the company’s previous close.

Several other research analysts have also recently issued reports on AMP. Royal Bank of Canada upped their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $489.33.

Ameriprise Financial Stock Up 1.1 %

Shares of AMP opened at $535.84 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $546.91 and a two-hundred day simple moving average of $482.88. Ameriprise Financial has a 52-week low of $368.41 and a 52-week high of $577.00. The company has a market capitalization of $51.98 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.34.

Insider Activity at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after acquiring an additional 358,699 shares during the period. Geode Capital Management LLC raised its stake in Ameriprise Financial by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ameriprise Financial by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after purchasing an additional 110,319 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares during the last quarter. Finally, AGF Management Ltd. increased its position in shares of Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Institutional investors 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.