Ameriprise Financial, Inc. (NYSE:AMP) Given Average Recommendation of “Buy” by Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $174.25.

A number of brokerages have weighed in on AMP. Citigroup set a $178.00 price target on Ameriprise Financial and gave the company a “buy” rating in a research report on Thursday, May 23rd. Ameriprise Financial upgraded Ameriprise Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $145.00 to $202.00 in a research report on Monday, May 13th. Credit Suisse Group upgraded Ameriprise Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from $145.00 to $202.00 in a research report on Monday, May 13th. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada set a $147.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research report on Friday, April 26th.

In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $150.38, for a total value of $775,960.80. Following the sale, the executive vice president now directly owns 23,656 shares in the company, valued at $3,557,389.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Ameriprise Financial by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,359 shares of the financial services provider’s stock worth $815,000 after purchasing an additional 77 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Ameriprise Financial by 40.4% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 80 shares during the period. Stewart & Patten Co. LLC lifted its stake in shares of Ameriprise Financial by 2.5% during the first quarter. Stewart & Patten Co. LLC now owns 3,330 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 82 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ameriprise Financial by 2.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,075 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 87 shares during the period. Finally, MV Capital Management Inc. lifted its stake in shares of Ameriprise Financial by 81.5% during the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 88 shares during the period. Institutional investors own 81.11% of the company’s stock.

Shares of NYSE AMP traded down $2.52 during trading hours on Tuesday, reaching $146.77. The stock had a trading volume of 1,360,545 shares, compared to its average volume of 796,057. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of 9.82 and a beta of 1.87. Ameriprise Financial has a twelve month low of $95.69 and a twelve month high of $153.91.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.14. Ameriprise Financial had a return on equity of 37.97% and a net margin of 14.85%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial will post 15.9 earnings per share for the current fiscal year.

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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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