Piper Sandler Sticks to Their Sell Rating for Ameriprise Financial (AMP)

In a report released today, John Barnidge from Piper Sandler maintained a Sell rating on Ameriprise Financial, with a price target of $434.00.

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Barnidge covers the Financial sector, focusing on stocks such as Apollo Global Management, Globe Life, and KKR & Co. According to TipRanks, Barnidge has an average return of 9.8% and a 63.09% success rate on recommended stocks.

In addition to Piper Sandler, Ameriprise Financial also received a Sell from Morgan Stanley’s Michael Cyprys in a report issued yesterday. However, on December 10, Bank of America Securities maintained a Buy rating on Ameriprise Financial (NYSE: AMP).

Based on Ameriprise Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.87 billion and a net profit of $912 million. In comparison, last year the company earned a revenue of $4.56 billion and had a net profit of $511 million

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMP in relation to earlier this year. Last month, Robert Francis Sharpe, a Director at AMP sold 1,500.00 shares for a total of $676,410.00.