Morgan Stanley Raises Ameriprise Financial (NYSE:AMP) Price Target to $467.00

Key Points

• Morgan Stanley raised its price target on Ameriprise to $467 from $452 but kept an "underweight" rating, implying roughly a 2.44% downside from the prior close.
• Ameriprise beat Q1 EPS estimates, reporting $11.26 vs. $10.21 expected, while revenue was $4.77B vs. $4.82B expected; the quarter showed a 62.88% ROE and a 20.57% net margin.
• Analysts' views vary: the consensus rating is Hold with an average price target of $542, though individual targets range much higher (e.g., Jefferies at $620 and RBC at $605).

Ameriprise Financial (NYSE:AMP - Get Free Report) had its target price hoisted by analysts at Morgan Stanley from $452.00 to $467.00 in a report released on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the financial services provider's stock. Morgan Stanley's price objective indicates a potential downside of 2.44% from the stock's previous close.

AMP has been the subject of a number of other reports. BMO Capital Markets increased their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Piper Sandler decreased their price objective on Ameriprise Financial from $530.00 to $460.00 and set a "hold" rating for the company in a research report on Tuesday, April 7th. Jefferies Financial Group increased their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods initiated coverage on Ameriprise Financial in a research note on Friday, April 10th. They set a "hold" rating for the company. Finally, Royal Bank Of Canada reissued 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 assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $542.00.

Ameriprise Financial Stock Performance

Shares of NYSE AMP traded up $3.31 during trading hours on Thursday, reaching $478.69. The stock had a trading volume of 175,563 shares, compared to its average volume of 690,961. The firm has a market cap of $43.65 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.17 and a beta of 1.27. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. Ameriprise Financial has a fifty-two week low of $422.37 and a fifty-two week high of $550.18. The firm has a 50-day moving average of $454.73 and a 200-day moving average of $474.19.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.21 by $1.05. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The firm had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the prior year, the firm earned $9.50 EPS. The business's revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that Ameriprise Financial will post 41.24 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the transaction, the chief financial officer directly owned 5,609 shares of the company's stock, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Munich Reinsurance Co Stock Corp in Munich increased its position in Ameriprise Financial by 1,048.5% during the first quarter. Munich Reinsurance Co Stock Corp in Munich now owns 21,316 shares of the financial services provider's stock worth $9,473,000 after buying an additional 19,460 shares in the last quarter. Personal CFO Solutions LLC increased its position in Ameriprise Financial by 1.7% during the first quarter. Personal CFO Solutions LLC now owns 2,023 shares of the financial services provider's stock worth $899,000 after buying an additional 33 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in Ameriprise Financial by 5.0% during the first quarter. Penobscot Investment Management Company Inc. now owns 3,930 shares of the financial services provider's stock worth $1,746,000 after buying an additional 187 shares in the last quarter. Flatrock Wealth Partners LLC purchased a new position in Ameriprise Financial during the first quarter worth $229,000. Finally, Jackson Thornton Wealth Management LLC increased its position in Ameriprise Financial by 90.8% during the first quarter. Jackson Thornton Wealth Management LLC now owns 1,208 shares of the financial services provider's stock worth $539,000 after buying an additional 575 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

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.

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