Ameriprise Financial (NYSE:AMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, January 10th. The brokerage currently has a $195.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.05% from the stock’s previous close.
According to Zacks, “Shares of Ameriprise have outperformed the industry in the last three months. The performance was supported by the company’s impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in all the trailing four quarters. The company remains well positioned to grow through strategic acquisitions, given its strong liquidity position. Further, the company’s efforts to modify product and service-offering capacity to keep pace with dynamic market needs will continue supporting top line growth. However, elevated expenses and outflows in the Asset Management segment remain major concerns, which might hamper the company’s financials in the near term.”
Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada set a $168.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Saturday, December 16th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $152.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 5th. SunTrust Banks lifted their price target on shares of Ameriprise Financial from $140.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, October 26th. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Barclays restated an “equal weight” rating on shares of Ameriprise Financial in a report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Ameriprise Financial presently has a consensus rating of “Buy” and an average target price of $161.48.
Shares of Ameriprise Financial (AMP) traded up $1.24 during trading on Wednesday, hitting $178.81. 1,233,249 shares of the stock were exchanged, compared to its average volume of 737,289. Ameriprise Financial has a 52-week low of $110.97 and a 52-week high of $183.90. The stock has a market capitalization of $26,267.93, a P/E ratio of 16.68 and a beta of 1.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.67 and a current ratio of 0.67.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping the consensus estimate of $2.79 by $0.33. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. equities research analysts expect that Ameriprise Financial will post 12.12 EPS for the current year.
In other news, insider David Kent Stewart sold 4,817 shares of Ameriprise Financial stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $171.51, for a total value of $826,163.67. Following the completion of the transaction, the insider now owns 29,727 shares of the company’s stock, valued at approximately $5,098,477.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Charles Neal Maglaque sold 1,754 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $161.01, for a total value of $282,411.54. Following the completion of the transaction, the chief operating officer now directly owns 14,697 shares of the company’s stock, valued at approximately $2,366,363.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,466 shares of company stock valued at $11,708,801. 1.50% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC grew its stake in shares of Ameriprise Financial by 284.0% during the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 230 shares during the period. Sun Life Financial INC grew its stake in shares of Ameriprise Financial by 10,100.0% during the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,111 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $200,000. Shelton Capital Management bought a new position in shares of Ameriprise Financial during the 3rd quarter valued at approximately $203,000. Finally, D.A. Davidson & CO. grew its stake in shares of Ameriprise Financial by 60.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 517 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.
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Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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