Ameriprise Financial (NYSE:AMP) Cut to Neutral at UBS Group

UBS Group cut shares of Ameriprise Financial (NYSE:AMP) from a buy rating to a neutral rating in a report released on Monday, MarketBeat Ratings reports. UBS Group currently has $570.00 price objective on the financial services provider’s stock, down from their prior price objective of $580.00.

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

Ameriprise Financial Price Performance

AMP stock opened at $534.35 on Monday. The stock has a 50-day moving average price of $547.89 and a two-hundred day moving average price of $484.46. Ameriprise Financial has a 1 year low of $368.41 and a 1 year high of $577.00. The stock has a market cap of $51.84 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.11%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction 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 directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMP. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial in the third quarter valued at approximately $31,000. Country Trust Bank grew its holdings in Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Ameriprise Financial during the 3rd quarter worth $45,000. Trifecta Capital Advisors LLC increased its position in Ameriprise Financial by 31.4% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock worth $65,000 after buying an additional 33 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Ameriprise Financial by 240.5% during the fourth quarter. Versant Capital Management Inc now owns 143 shares of the financial services provider’s stock worth $76,000 after buying an additional 101 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Company Profile

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.