Ameriprise Financial (NYSE:AMP) Downgraded to "Sell" Rating by StockNews.com

Ameriprise Financial (NYSE:AMP - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a report on Monday, April 7th. Finally, Piper Sandler increased their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $517.13.

Ameriprise Financial Stock Performance

AMP stock traded down $1.95 during midday trading on Thursday, reaching $509.17. 100,313 shares of the company's stock traded hands, compared to its average volume of 536,855. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a market cap of $48.48 billion, a P/E ratio of 15.40, a PEG ratio of 1.15 and a beta of 1.28. The stock's 50-day moving average is $481.60 and its 200 day moving average is $520.29.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.39 EPS. As a group, analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current year.

Ameriprise Financial declared that its board has authorized a stock buyback plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after buying an additional 2,109,824 shares in the last quarter. Norges Bank bought a new stake in Ameriprise Financial in the 4th quarter worth approximately $689,272,000. JPMorgan Chase & Co. increased its stake in Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider's stock worth $2,819,900,000 after acquiring an additional 1,023,002 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $469,334,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider's stock valued at $1,086,724,000 after acquiring an additional 796,925 shares during the last quarter. 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.

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