Ameriprise Financial, Inc. (NYSE:AMP) – Research analysts at William Blair decreased their FY2017 earnings estimates for shares of Ameriprise Financial in a research report issued on Wednesday. William Blair analyst A. Klauber now anticipates that the financial services provider will post earnings of $12.02 per share for the year, down from their previous forecast of $12.11. William Blair also issued estimates for Ameriprise Financial’s Q4 2017 earnings at $3.00 EPS, Q1 2018 earnings at $3.49 EPS, Q2 2018 earnings at $3.62 EPS, Q3 2018 earnings at $3.46 EPS, Q4 2018 earnings at $3.94 EPS, Q1 2019 earnings at $4.06 EPS, Q2 2019 earnings at $4.23 EPS, Q3 2019 earnings at $4.08 EPS and Q4 2019 earnings at $4.64 EPS.
Several other brokerages also recently issued reports on AMP. SunTrust Banks boosted their target price on shares of Ameriprise Financial from $9.64 to $180.00 and gave the company a “hold” rating in a research note on Friday. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research note on Wednesday, January 10th. Royal Bank of Canada set a $168.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Saturday, December 16th. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Morgan Stanley boosted 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $161.48.
Shares of Ameriprise Financial (NYSE AMP) opened at $178.81 on Friday. 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 has a one year low of $110.97 and a one year high of $183.90. The stock has a market cap of $26,450.00, a price-to-earnings ratio of 16.70 and a beta of 1.93.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.33. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the business earned $2.29 EPS. The company’s revenue was up 6.3% on a year-over-year basis.
In other news, insider David Kent Stewart sold 4,817 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $171.51, for a total transaction of $826,163.67. Following the transaction, the insider now directly owns 29,727 shares in the company, valued at approximately $5,098,477.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Colin Moore sold 4,285 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $161.09, for a total transaction of $690,270.65. Following the transaction, the executive vice president now owns 73,690 shares in the company, valued at $11,870,722.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,466 shares of company stock worth $11,708,801. 1.50% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Montecito Bank & Trust boosted its holdings in Ameriprise Financial by 19.5% in the third quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 399 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Ameriprise Financial in the second quarter worth $25,127,000. Wasatch Advisors Inc. bought a new stake in Ameriprise Financial in the second quarter worth $352,000. Zacks Investment Management boosted its holdings in Ameriprise Financial by 6.4% in the second quarter. Zacks Investment Management now owns 366,787 shares of the financial services provider’s stock worth $46,688,000 after purchasing an additional 22,084 shares in the last quarter. Finally, Gs Investments Inc. bought a new stake in Ameriprise Financial in the second quarter worth $2,384,000. Hedge funds and other institutional investors own 81.57% of the company’s stock.
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About Ameriprise Financial
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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