Ameriprise Financial (NYSE:AMP) PT Lowered to $175.00

Ameriprise Financial (NYSE:AMP) had its target price lowered by UBS Group from $178.00 to $175.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the financial services provider’s stock. UBS Group’s price target indicates a potential upside of 15.79% from the stock’s previous close.

A number of other research analysts also recently commented on AMP. ValuEngine downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Argus initiated coverage on shares of Ameriprise Financial in a research note on Friday, July 5th. They issued a “buy” rating for the company. Citigroup cut shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. Finally, Barclays lifted their price objective on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Ameriprise Financial has an average rating of “Buy” and an average target price of $173.56.

Shares of AMP opened at $151.14 on Friday. The company has a 50-day moving average price of $147.46. Ameriprise Financial has a one year low of $95.69 and a one year high of $153.91. The company has a market cap of $20.24 billion, a P/E ratio of 10.12 and a beta of 1.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $3.75 EPS for the quarter, beating 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 company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the firm posted $3.70 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial will post 15.9 earnings per share for the current year.

In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of Ameriprise Financial stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $150.38, for a total value of $775,960.80. Following the completion of the sale, the executive vice president now owns 23,656 shares in the company, valued at approximately $3,557,389.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. MV Capital Management Inc. raised its position in shares of Ameriprise Financial by 81.5% in the 1st quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock valued at $25,000 after buying an additional 88 shares in the last quarter. Farmers National Bank acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $31,000. Hanson McClain Inc. increased its position in Ameriprise Financial by 232.0% during the 1st quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Ameriprise Financial by 40.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 80 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $36,000. Institutional investors own 81.11% 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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