Ameriprise Financial (AMP) Rating Lowered to Hold at Zacks Investment Research
Ameriprise Financial (NYSE:AMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Shares of Ameriprise have outperformed the industry in the past six months. 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 for top-line growth through AUM growth, acquisitions and restructuring initiatives along with efforts to modify product and service-offering capacity. While elevated expenses and outflows in the Asset Management segment continue to be major near-term concerns, the company is expected to continue enhancing shareholder value through efficient capital deployment activities.”
Several other equities research analysts have also issued reports on the stock. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $177.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 13th. Royal Bank of Canada set a $148.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a research note on Wednesday, October 24th. UBS Group lowered their target price on shares of Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. ValuEngine lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Finally, Credit Suisse Group lowered their target price on shares of Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $160.38.
Ameriprise Financial (NYSE:AMP) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.37. Ameriprise Financial had a net margin of 13.58% and a return on equity of 37.21%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the company posted $3.12 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Ameriprise Financial will post 15.04 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Capital Guardian Trust Co. purchased a new position in Ameriprise Financial in the 3rd quarter valued at about $107,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Ameriprise Financial by 8,300.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 840 shares of the financial services provider’s stock valued at $118,000 after buying an additional 830 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Ameriprise Financial in the 3rd quarter valued at about $136,000. Valeo Financial Advisors LLC lifted its stake in Ameriprise Financial by 56.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,075 shares of the financial services provider’s stock valued at $147,000 after buying an additional 389 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC purchased a new position in Ameriprise Financial in the 3rd quarter valued at about $200,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.
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 Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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