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 note issued to investors on Monday, MarketBeat reports. They currently have a $570.00 price target on the financial services provider’s stock, down from their prior price target of $580.00. UBS Group’s target price would indicate a potential upside of 7.96% from the stock’s previous close.

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

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $527.98 on Monday. Ameriprise Financial has a 52 week low of $368.41 and a 52 week high of $577.00. The business has a fifty day simple moving average of $547.49 and a 200-day simple moving average of $484.11. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market cap of $51.22 billion, a P/E ratio of 20.27, a P/E/G ratio of 0.96 and a beta of 1.36.

Insider Activity

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds have recently made changes to their positions in the business. One Wealth Capital Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth approximately $372,000. Oliver Luxxe Assets LLC boosted its position in Ameriprise Financial by 19.0% during the 4th quarter. Oliver Luxxe Assets LLC now owns 1,202 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 192 shares during the period. CWA Asset Management Group LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth $204,000. Pensionfund Sabic grew its stake in shares of Ameriprise Financial by 23.3% in the fourth quarter. Pensionfund Sabic now owns 3,700 shares of the financial services provider’s stock worth $1,970,000 after purchasing an additional 700 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Ameriprise Financial by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 36,118 shares of the financial services provider’s stock valued at $19,232,000 after purchasing an additional 712 shares during the period. 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.