Ameriprise Financial (NYSE:AMP) Rating Lowered to Underweight at Morgan Stanley

Ameriprise Financial (NYSE:AMP - Get Free Report) was downgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They currently have a $530.00 price target on the financial services provider's stock, up from their prior price target of $462.00. Morgan Stanley's target price suggests a potential upside of 1.33% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Royal Bank Of Canada boosted their price target on shares of Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Raymond James Financial upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Piper Sandler boosted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $524.71.

Ameriprise Financial Trading Up 0.1%

Shares of Ameriprise Financial stock traded up $0.35 during trading on Tuesday, hitting $523.02. The stock had a trading volume of 164,330 shares, compared to its average volume of 518,423. The firm's fifty day simple moving average is $518.34 and its 200-day simple moving average is $511.27. The stock has a market cap of $49.80 billion, a PE ratio of 17.77, a PEG ratio of 1.17 and a beta of 1.23. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. Ameriprise Financial has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the business posted $8.39 EPS. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Ameriprise Financial announced that its board has authorized a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $4.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Institutional Trading of Ameriprise Financial

Several large investors have recently made changes to their positions in AMP. GAMMA Investing LLC lifted its stake in shares of Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management lifted its stake in shares of Ameriprise Financial by 91.6% in the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock valued at $692,000 after purchasing an additional 683 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 806 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ameriprise Financial by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 24,902 shares of the financial services provider's stock valued at $12,055,000 after purchasing an additional 1,433 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Ameriprise Financial by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider's stock valued at $2,864,000 after purchasing an additional 420 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.