Keefe, Bruyette & Woods Has Lowered Expectations for Ameriprise Financial (NYSE:AMP) Stock Price

Ameriprise Financial (NYSE:AMP) had its target price reduced by Keefe, Bruyette & Woods from $565.00 to $560.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other research firms have also recently commented on AMP. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $494.89.

Ameriprise Financial Stock Down 3.5 %

Shares of AMP opened at $516.44 on Friday. 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 business has a fifty day moving average of $548.56 and a 200 day moving average of $485.34. The company has a market cap of $50.10 billion, a PE ratio of 19.82, a P/E/G ratio of 0.96 and a beta of 1.36. Ameriprise Financial has a 52-week low of $368.41 and a 52-week high of $577.00.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is 22.73%.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,715 shares of company stock worth $11,983,436. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A number of large investors have recently modified their holdings of the business. Oakworth Capital Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter valued at about $31,000. Country Trust Bank boosted its holdings in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $45,000. Trifecta Capital Advisors LLC increased its holdings in shares of Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 33 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Ameriprise Financial by 240.5% during the fourth quarter. Versant Capital Management Inc now owns 143 shares of the financial services provider’s stock worth $76,000 after buying an additional 101 shares in the last quarter. Hedge funds and other 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.