Ameriprise Financial (NYSE:AMP) Upgraded at ValuEngine

Ameriprise Financial (NYSE:AMP) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday, April 16th, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday, April 8th. UBS Group raised their price target on shares of Ameriprise Financial from $156.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Barclays raised their price target on shares of Ameriprise Financial from $135.00 to $146.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Morgan Stanley reduced their price target on shares of Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, January 11th. Finally, Sandler O’Neill upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ameriprise Financial presently has an average rating of “Buy” and an average price target of $159.63.

NYSE:AMP traded down $0.20 during mid-day trading on Tuesday, reaching $142.83. 753,449 shares of the company’s stock were exchanged, compared to its average volume of 953,063. Ameriprise Financial has a one year low of $95.69 and a one year high of $153.15. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 9.56 and a beta of 1.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.81.

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

In other news, EVP Colin Moore sold 24,032 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $133.64, for a total value of $3,211,636.48. Following the transaction, the executive vice president now owns 56,447 shares in the company, valued at approximately $7,543,577.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AMP. Hallmark Capital Management Inc. increased its stake in shares of Ameriprise Financial by 115.8% in the 1st quarter. Hallmark Capital Management Inc. now owns 4,670 shares of the financial services provider’s stock valued at $598,000 after acquiring an additional 2,506 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at $44,000. Bremer Bank National Association bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at $981,000. FinTrust Capital Advisors LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at $61,000. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at $221,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Ameriprise Financial Company Profile

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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