Ameriprise Financial (AMP) Hits New 12-Month High at $175.54
Shares of Ameriprise Financial, Inc. (NYSE:AMP) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $175.54 and last traded at $172.00, with a volume of 1006300 shares traded. The stock had previously closed at $170.27.
AMP has been the subject of a number of recent research reports. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Thursday, October 5th. Royal Bank of Canada set a $168.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. Morgan Stanley raised their target price on Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. SunTrust Banks raised their target price on Ameriprise Financial from $140.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, ValuEngine cut Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $159.60.
The stock has a market cap of $26,010.00, a PE ratio of 16.42 and a beta of 1.93. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 29.75% and a net margin of 14.24%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. equities analysts anticipate that Ameriprise Financial, Inc. will post 12.14 earnings per share for the current fiscal year.
In related news, insider John Robert Woerner sold 9,022 shares of Ameriprise Financial stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $160.91, for a total transaction of $1,451,730.02. Following the completion of the sale, the insider now owns 43,167 shares of the company’s stock, valued at $6,946,001.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James M. Cracchiolo sold 42,228 shares of Ameriprise Financial stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the sale, the chairman now directly owns 242,013 shares of the company’s stock, valued at approximately $38,559,931.29. 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. 1.50% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of AMP. IHT Wealth Management LLC lifted its stake in Ameriprise Financial by 284.0% during the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 230 shares during the last quarter. Sun Life Financial INC lifted its stake in Ameriprise Financial by 10,100.0% during the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,111 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Ameriprise Financial by 60.3% during the second quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 517 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in Ameriprise Financial during the third quarter worth about $200,000. Finally, Shelton Capital Management bought a new stake in Ameriprise Financial during the third quarter worth about $203,000. 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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