Piper Sandler Lowers Ameriprise Financial (NYSE:AMP) Price Target to $387.00

Ameriprise Financial (NYSE:AMP) had its price target reduced by investment analysts at Piper Sandler from $390.00 to $387.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential downside of 10.04% from the stock’s previous close.

AMP has been the topic of several other reports. The Goldman Sachs Group upped their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI boosted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Raymond James initiated coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $450.25.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $430.21 on Friday. The stock has a market capitalization of $42.73 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. Ameriprise Financial has a one year low of $306.63 and a one year high of $446.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day simple moving average is $428.10 and its two-hundred day simple moving average is $409.75.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $7.25 EPS. Analysts forecast that Ameriprise Financial will post 34.95 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial 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 sale, the director now owns 11,000 shares in the company, valued at $4,818,770. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

A number of large investors have recently made changes to their positions in the business. LPL Financial LLC lifted its stake in shares of Ameriprise Financial by 13.3% in the 3rd quarter. LPL Financial LLC now owns 39,255 shares of the financial services provider’s stock valued at $12,941,000 after purchasing an additional 4,593 shares during the last quarter. Trexquant Investment LP boosted its stake in shares of Ameriprise Financial by 247.4% during the 3rd quarter. Trexquant Investment LP now owns 10,424 shares of the financial services provider’s stock worth $3,437,000 after purchasing an additional 7,423 shares during the period. Bank of Nova Scotia grew its holdings in Ameriprise Financial by 23.5% during the 3rd quarter. Bank of Nova Scotia now owns 12,432 shares of the financial services provider’s stock valued at $4,098,000 after purchasing an additional 2,362 shares during the last quarter. Gotham Asset Management LLC raised its position in Ameriprise Financial by 12.3% in the 3rd quarter. Gotham Asset Management LLC now owns 1,096 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 120 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Ameriprise Financial by 123.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 44,160 shares of the financial services provider’s stock worth $14,559,000 after purchasing an additional 24,433 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

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.