UBS Group Downgrades Ameriprise Financial (NYSE:AMP) to Neutral

Ameriprise Financial (NYSE:AMP) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $570.00 price objective on the financial services provider’s stock, down from their prior price objective of $580.00. UBS Group’s price target would suggest a potential upside of 7.96% from the stock’s previous close.

AMP has been the subject of several other research reports. Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $489.33.

Ameriprise Financial Stock Performance

AMP opened at $527.98 on Monday. The business has a 50 day moving average price of $547.49 and a two-hundred day moving average price of $484.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $51.22 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. Ameriprise Financial has a 1-year low of $368.41 and a 1-year high of $577.00.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last quarter. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares in the last quarter. Maj Invest Holding A S bought a new position in Ameriprise Financial during the third quarter valued at approximately $98,742,000. The Manufacturers Life Insurance Company lifted its stake in Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after acquiring an additional 143,648 shares during the last quarter. AGF Management Ltd. grew its position in Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

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.