Piper Sandler Issues Pessimistic Forecast for Ameriprise Financial (NYSE:AMP) Stock Price

Key Points

• Piper Sandler cut its price target on Ameriprise from $530 to $460 and kept a "neutral" rating, implying roughly a 7.11% upside from the current price.
• Analysts are split overall — the consensus target is $547.89 with ratings ranging from Strong Buy to Sell, and several firms (Jefferies, RBC) posting targets as high as $620.
• Ameriprise recently beat quarterly EPS and revenue estimates and reported strong profitability (ROE 63.04%, net margin 19.28%), but the stock trades near $429 and insiders have sold about 16,658 shares (~$9M) in the last 90 days.

Ameriprise Financial (NYSE:AMP - Get Free Report) had its price objective reduced by investment analysts at Piper Sandler from $530.00 to $460.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price target suggests a potential upside of 7.11% from the stock's current price.

Several other research analysts have also recently weighed in on AMP. Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the company a "strong-buy" rating in a report on Wednesday, February 11th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an "underweight" rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Royal Bank Of Canada reiterated 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. Finally, Jefferies Financial Group increased their price target on Ameriprise Financial from $600.00 to $620.00 and gave the company a "buy" rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $547.89.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded down $0.95 during trading on Tuesday, hitting $429.46. 357,177 shares of the company's stock traded hands, compared to its average volume of 685,950. Ameriprise Financial has a 1 year low of $418.54 and a 1 year high of $550.18. The business has a 50-day simple moving average of $470.70 and a 200-day simple moving average of $477.87. The stock has a market capitalization of $39.16 billion, a P/E ratio of 11.81, a PEG ratio of 1.05 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping analysts' consensus estimates of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.Ameriprise Financial's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.54 EPS. As a group, analysts forecast that Ameriprise Financial will post 38.64 EPS for the current year.

Insider Buying and Selling at Ameriprise Financial

In other news, insider Gumer Alvero sold 4,658 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares of the company's stock, valued at $2,508,648.48. The trade was a 50.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 5,000 shares of the company's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the completion of the sale, the chief executive officer owned 12,149 shares of the company's stock, valued at $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.73% of the company's stock.

Institutional Trading of Ameriprise Financial

Several hedge funds have recently bought and sold shares of AMP. Old North State Trust LLC grew its stake in shares of Ameriprise Financial by 7.6% during the 4th quarter. Old North State Trust LLC now owns 3,271 shares of the financial services provider's stock valued at $1,604,000 after acquiring an additional 230 shares during the period. Hsbc Holdings PLC raised its stake in Ameriprise Financial by 3.7% during the 4th quarter. Hsbc Holdings PLC now owns 593,738 shares of the financial services provider's stock worth $291,615,000 after acquiring an additional 21,017 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Ameriprise Financial by 53.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 121,063 shares of the financial services provider's stock valued at $59,362,000 after purchasing an additional 42,290 shares in the last quarter. World Investment Advisors boosted its position in shares of Ameriprise Financial by 4.4% in the fourth quarter. World Investment Advisors now owns 3,721 shares of the financial services provider's stock worth $1,824,000 after purchasing an additional 158 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Ameriprise Financial by 5.9% in the fourth quarter. Corient Private Wealth LLC now owns 27,420 shares of the financial services provider's stock worth $13,447,000 after purchasing an additional 1,525 shares during the period. Institutional investors own 83.95% of the company's stock.

About Ameriprise Financial

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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