Ameriprise Financial (NYSE:AMP) had its price target cut by Morgan Stanley from $190.00 to $184.00 in a research report sent to investors on Thursday. They currently have an overweight rating on the financial services provider’s stock.
A number of other research firms have also commented on AMP. Zacks Investment Research raised Ameriprise Financial from a hold rating to a buy rating and set a $195.00 price target for the company in a research report on Wednesday, January 10th. Deutsche Bank started coverage on Ameriprise Financial in a research report on Friday, March 2nd. They set a buy rating for the company. UBS started coverage on Ameriprise Financial in a research report on Friday, March 2nd. They set a buy rating and a $217.00 price target for the company. ValuEngine lowered Ameriprise Financial from a buy rating to a hold rating in a research report on Monday, April 2nd. Finally, Royal Bank of Canada set a $168.00 price target on Ameriprise Financial and gave the company a hold rating in a research report on Saturday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $169.22.
NYSE AMP opened at $141.31 on Thursday. Ameriprise Financial has a 1-year low of $118.84 and a 1-year high of $183.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $21,360.11, a PE ratio of 11.52 and a beta of 1.84.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($1.90). The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.05 billion. Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. equities research analysts forecast that Ameriprise Financial will post 14.43 earnings per share for the current year.
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $174.04, for a total transaction of $957,220.00. Following the transaction, the executive vice president now owns 8,138 shares in the company, valued at approximately $1,416,337.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 31,379 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $173.64, for a total value of $5,448,649.56. Following the transaction, the chief executive officer now owns 67,058 shares in the company, valued at approximately $11,643,951.12. The disclosure for this sale can be found here. Insiders have sold a total of 41,260 shares of company stock worth $7,105,121 in the last quarter. Company insiders own 1.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of AMP. Icon Wealth Partners LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $101,000. Capital Analysts LLC grew its holdings in shares of Ameriprise Financial by 953.0% during the 4th quarter. Capital Analysts LLC now owns 5,981 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 5,413 shares during the period. Lee Financial Co grew its holdings in shares of Ameriprise Financial by 99.4% during the 4th quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 340 shares during the period. Virtue Capital Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $128,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Ameriprise Financial by 150.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 468 shares during the period. Hedge funds and other institutional investors own 86.73% of the company’s stock.
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About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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