Ameriprise Financial (AMP) Rating Increased to Buy at Zacks Investment Research

Ameriprise Financial (NYSE:AMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $195.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.12% 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.”

A number of other analysts have also recently commented 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 research note on Saturday, December 16th. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. SunTrust Banks boosted their target price on shares of Ameriprise Financial from $140.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Morgan Stanley boosted their target price on shares of Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Finally, Barclays reissued an “equal weight” rating on shares of Ameriprise Financial in a research note on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $159.60.

Ameriprise Financial (NYSE AMP) traded up $3.06 on Wednesday, reaching $182.04. 1,143,505 shares of the company’s stock were exchanged, compared to its average volume of 734,706. Ameriprise Financial has a one year low of $110.75 and a one year high of $182.37. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $26,476.51, a PE ratio of 16.98 and a beta of 1.93.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.33. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 earnings per share. analysts predict that Ameriprise Financial will post 12.15 earnings per share for the current year.

In related news, insider David Kent Stewart sold 4,817 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $171.51, for a total transaction of $826,163.67. Following the completion of the sale, the insider now owns 29,727 shares of the company’s stock, valued at approximately $5,098,477.77. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 7,329 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $169.47, for a total transaction of $1,242,045.63. Following the sale, the insider now directly owns 37,991 shares of the company’s stock, valued at approximately $6,438,334.77. The disclosure for this sale can be found here. Insiders have sold 72,466 shares of company stock valued at $11,708,801 in the last three months. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its stake in Ameriprise Financial by 0.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 9,097 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 29 shares in the last quarter. National Asset Management Inc. grew its stake in Ameriprise Financial by 1.0% during the 2nd quarter. National Asset Management Inc. now owns 3,165 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 32 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Ameriprise Financial by 3.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,754 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 108 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Ameriprise Financial by 2.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 5,790 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 130 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its stake in Ameriprise Financial by 6.3% during the 2nd quarter. ETRADE Capital Management LLC now owns 2,239 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 132 shares in the last quarter. 81.51% of the stock is owned by institutional investors.

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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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