Ameriprise Financial (AMP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Ameriprise Financial (NYSE:AMP) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $177.50.

Several equities analysts have weighed in on AMP shares. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a research note on Wednesday, January 10th. Deutsche Bank started coverage on Ameriprise Financial in a research note on Friday, March 2nd. They set a “buy” rating on the stock. Morgan Stanley raised their price objective on Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. UBS started coverage on Ameriprise Financial in a research note on Friday, March 2nd. They set a “buy” rating and a $217.00 price objective on the stock. Finally, Sandler O’Neill set a $150.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a research note on Thursday, April 5th.

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In other news, CEO William F. Truscott sold 31,379 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the completion of the sale, the chief executive officer now directly owns 67,058 shares of the company’s stock, valued at approximately $11,643,951.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Deirdre Davey Mcgraw sold 5,500 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $174.04, for a total value of $957,220.00. Following the sale, the executive vice president now directly owns 8,138 shares of the company’s stock, valued at $1,416,337.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,260 shares of company stock valued at $7,105,121. Insiders own 1.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Aristotle Capital Management LLC increased its position in shares of Ameriprise Financial by 3.7% during the 4th quarter. Aristotle Capital Management LLC now owns 2,556,014 shares of the financial services provider’s stock valued at $433,167,000 after purchasing an additional 91,100 shares during the last quarter. Lyrical Asset Management LP increased its position in shares of Ameriprise Financial by 2.3% during the 4th quarter. Lyrical Asset Management LP now owns 2,108,953 shares of the financial services provider’s stock valued at $357,404,000 after purchasing an additional 47,250 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ameriprise Financial by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,539,034 shares of the financial services provider’s stock valued at $260,259,000 after purchasing an additional 40,199 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Ameriprise Financial by 19.0% during the 4th quarter. Allianz Asset Management GmbH now owns 936,100 shares of the financial services provider’s stock valued at $158,640,000 after purchasing an additional 149,566 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Ameriprise Financial by 18.7% in the 4th quarter. Victory Capital Management Inc. now owns 655,315 shares of the financial services provider’s stock worth $111,057,000 after acquiring an additional 103,171 shares during the last quarter. 86.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:AMP opened at $144.62 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.85. Ameriprise Financial has a 1-year low of $118.84 and a 1-year high of $183.90. The firm has a market cap of $21,011.84, a price-to-earnings ratio of 11.79 and a beta of 1.84.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the business posted $2.46 earnings per share. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis. sell-side analysts forecast that Ameriprise Financial will post 14.38 earnings per share for the current year.

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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.

Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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