Ameriprise Financial (NYSE:AMP) Given New $560.00 Price Target at Keefe, Bruyette & Woods

Ameriprise Financial (NYSE:AMP) had its price target lowered by Keefe, Bruyette & Woods from $565.00 to $560.00 in a report released on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on AMP. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Price Performance

AMP opened at $516.44 on Friday. The company’s 50-day simple moving average is $548.56 and its two-hundred day simple moving average is $485.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market capitalization of $50.10 billion, a P/E ratio of 19.82, a P/E/G ratio of 0.96 and a beta of 1.36. Ameriprise Financial has a 52-week low of $368.41 and a 52-week high of $577.00.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is 22.73%.

Insider Buying and Selling at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock valued at $11,983,436 over the last 90 days. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ameriprise Financial

Several hedge funds have recently modified their holdings of AMP. Bridgewater Associates LP lifted its stake in Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Ameriprise Financial by 19.9% in the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC lifted its position in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 1,867 shares in the last quarter. Aljian Capital Management LLC bought a new position in Ameriprise Financial during the third quarter valued at approximately $458,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Ameriprise Financial by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,618 shares of the financial services provider’s stock valued at $8,725,000 after buying an additional 1,191 shares in the last quarter. Hedge funds and other 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.