Keefe, Bruyette & Woods Increases Ameriprise Financial (NYSE:AMP) Price Target to $510.00

Ameriprise Financial (NYSE:AMP) had its price target raised by equities researchers at Keefe, Bruyette & Woods from $475.00 to $510.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 0.79% from the stock’s current price.

A number of other analysts also recently issued reports on AMP. UBS Group raised their price target on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $487.67.

Ameriprise Financial Stock Down 0.4 %

AMP stock opened at $514.04 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a 1-year low of $311.11 and a 1-year high of $524.89. The stock has a market capitalization of $50.47 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.81 and a beta of 1.35. The business has a fifty day moving average price of $472.05 and a 200-day moving average price of $442.03.

Insider Activity at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Ameriprise Financial by 188.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 28,658 shares of the financial services provider’s stock valued at $12,565,000 after purchasing an additional 18,722 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at $253,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the first quarter worth about $28,000. Norden Group LLC purchased a new stake in shares of Ameriprise Financial during the first quarter valued at about $3,288,000. Finally, Wealthstar Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $210,000. Institutional investors own 83.95% of the company’s stock.

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.