Ameriprise Financial (NYSE:AMP) PT Lowered to $170.00

Ameriprise Financial (NYSE:AMP) had its price target lowered by research analysts at Morgan Stanley from $175.00 to $170.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 32.86% from the company’s current price.

A number of other research firms have also weighed in on AMP. ValuEngine lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Royal Bank of Canada set a $145.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Friday, July 26th. Credit Suisse Group raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $145.00 to $202.00 in a report on Monday, May 13th. Argus assumed coverage on shares of Ameriprise Financial in a report on Friday, July 5th. They set a “buy” rating on the stock. Finally, Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $175.88.

Ameriprise Financial stock opened at $127.95 on Tuesday. The firm’s 50 day simple moving average is $141.40 and its 200 day simple moving average is $139.15. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $16.53 billion, a PE ratio of 8.56 and a beta of 1.80. Ameriprise Financial has a 1-year low of $95.69 and a 1-year high of $153.91.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.00 by $0.06. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. Ameriprise Financial’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.60 EPS. Research analysts forecast that Ameriprise Financial will post 16.06 earnings per share for the current year.

In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 23,656 shares of the company’s stock, valued at approximately $3,557,389.28. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AMP. Griffin Asset Management Inc. purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $28,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $85,000. Maverick Capital Ltd. purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $1,968,000. Prudential PLC purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $329,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $215,000. 83.10% of the stock is owned by institutional investors and hedge funds.

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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