Ameriprise Financial (AMP) Rating Increased to Buy at Zacks Investment Research
Ameriprise Financial (NYSE:AMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $176.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.49% from the company’s current price.
According to Zacks, “Shares of Ameriprise have outperformed the industry in the last six months. Moreover, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The company remains well positioned to grow through strategic acquisitions, given its strong liquidity position. Further, its efforts to modify product and service-offering capacity to keep pace with dynamic market needs will continue supporting top-line growth. While, elevated expenses and outflows in the company's Asset Management segment continue to be major concerns, lower tax rates are expected to lead to further improvement in profitability.”
A number of other equities analysts have also recently commented on AMP. ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Deutsche Bank began coverage on shares of Ameriprise Financial in a research note on Friday, March 2nd. They issued a “buy” rating for the company. Sandler O’Neill set a $165.00 price target on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Monday, February 12th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, UBS began coverage on shares of Ameriprise Financial in a research note on Friday, March 2nd. They issued a “buy” rating and a $217.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $171.56.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a return on equity of 31.03% and a net margin of 12.31%. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the firm earned $2.46 EPS. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. sell-side analysts expect that Ameriprise Financial will post 14.43 earnings per share for the current year.
In other news, CEO William F. Truscott sold 31,379 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $173.64, for a total value of $5,448,649.56. Following the completion of the sale, the chief executive officer now owns 67,058 shares of the company’s stock, valued at approximately $11,643,951.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Randy Kupper sold 4,381 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $159.61, for a total transaction of $699,251.41. Following the sale, the executive vice president now owns 21,607 shares of the company’s stock, valued at $3,448,693.27. The disclosure for this sale can be found here. Insiders sold a total of 46,077 shares of company stock valued at $7,931,285 in the last ninety days. 1.50% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Icon Wealth Partners LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at $101,000. Capital Analysts LLC raised its holdings in Ameriprise Financial by 953.0% during the 4th quarter. Capital Analysts LLC now owns 5,981 shares of the financial services provider’s stock valued at $104,000 after buying an additional 5,413 shares during the last quarter. Lee Financial Co raised its holdings in Ameriprise Financial by 99.4% during the 4th quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock valued at $116,000 after buying an additional 340 shares during the last quarter. Virtue Capital Management LLC bought a new stake in Ameriprise Financial during the 4th quarter valued at $128,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Ameriprise Financial by 150.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 468 shares in the last quarter. Institutional investors own 86.72% of the company’s stock.
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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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