Ameriprise Financial (NYSE:AMP) Now Covered by Analysts at Keefe, Bruyette & Woods

Stock analysts at Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial (NYSE:AMP) in a report issued on Friday. The firm set a “market perform” rating on the financial services provider’s stock.

Several other brokerages also recently commented on AMP. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. 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 report on Wednesday, February 11th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $485.00 to $452.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. One equities research 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $544.22.

Ameriprise Financial Trading Down 1.1%

Ameriprise Financial stock traded down $4.97 during mid-day trading on Friday, reaching $447.94. 233,646 shares of the company traded hands, compared to its average volume of 691,361. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s 50 day moving average price is $467.07 and its 200 day moving average price is $477.13. The firm has a market capitalization of $40.84 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.10 and a beta of 1.27. Ameriprise Financial has a 52-week low of $422.37 and a 52-week high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.75 billion. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.54 EPS. On average, analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. The trade was a 50.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 5,000 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,658 shares of company stock valued at $8,998,675. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Several institutional investors have recently made changes to their positions in AMP. Norges Bank bought a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $742,438,000. AQR Capital Management LLC lifted its stake in shares of Ameriprise Financial by 84.2% in the 4th quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares during the period. M&T Bank Corp lifted its stake in shares of Ameriprise Financial by 1,440.2% in the 4th quarter. M&T Bank Corp now owns 466,151 shares of the financial services provider’s stock worth $228,572,000 after purchasing an additional 435,885 shares during the period. First Trust Advisors LP lifted its stake in shares of Ameriprise Financial by 85.5% in the 4th quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after purchasing an additional 381,754 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Ameriprise Financial by 140.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the period. Institutional investors 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.