Morgan Stanley Has Lowered Expectations for Ameriprise Financial (NYSE:AMP) Stock Price

Key Points

• Morgan Stanley has lowered its price target for Ameriprise Financial from $530.00 to $484.00, reflecting a potential downside of 0.75% from the current stock price.
• Despite the downgrade, Ameriprise Financial's recent earnings results exceeded expectations, reporting earnings per share of $9.11 against a consensus estimate of $9.00.
• Overall, analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a consensus target price of $536.83.

Ameriprise Financial (NYSE:AMP - Get Free Report) had its price objective decreased by Morgan Stanley from $530.00 to $484.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the financial services provider's stock. Morgan Stanley's target price suggests a potential downside of 0.75% from the company's current price.

Other research analysts also recently issued reports about the company. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research note on Friday, July 25th. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada boosted their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of "Hold" and a consensus target price of $536.83.

Ameriprise Financial Trading Down 0.7%

Shares of AMP traded down $3.60 during trading hours on Wednesday, hitting $487.65. 138,198 shares of the stock traded hands, compared to its average volume of 505,157. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial has a 1-year low of $396.14 and a 1-year high of $582.05. The firm has a market capitalization of $45.97 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The business has a fifty day moving average of $505.04 and a 200-day moving average of $502.19.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.72 earnings per share. Analysts expect that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Ameriprise Financial

A number of hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont raised its stake in Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider's stock valued at $1,618,000 after buying an additional 19 shares during the last quarter. Plancorp LLC raised its position in shares of Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock valued at $213,000 after buying an additional 20 shares in the last quarter. Old Port Advisors raised its position in shares of Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider's stock valued at $737,000 after buying an additional 20 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider's stock valued at $2,186,000 after buying an additional 20 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after buying an additional 21 shares in the last quarter. 83.95% of the stock is owned by 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.

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