Ameriprise Financial (NYSE:AMP) had its price target lifted by Morgan Stanley from $165.00 to $173.00 in a report released on Wednesday, Stock Target Advisor reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group reaffirmed a buy rating and set a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Royal Bank of Canada set a $147.00 price objective on Ameriprise Financial and gave the company a hold rating in a research report on Friday, April 26th. ValuEngine downgraded Wave Life Sciences from a buy rating to a hold rating in a research report on Tuesday, April 16th. Ameriprise Financial raised Ameriprise Financial from a neutral rating to an outperform rating and raised their price objective for the company from $145.00 to $202.00 in a research report on Monday, May 13th. Finally, Argus assumed coverage on Ameriprise Financial in a report on Friday, July 5th. They issued a buy rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Ameriprise Financial currently has a consensus rating of Buy and an average target price of $173.56.

Shares of AMP stock opened at $151.14 on Wednesday. Ameriprise Financial has a 1-year low of $95.69 and a 1-year high of $153.91. The company’s 50-day moving average is $147.46. The company has a market capitalization of $20.24 billion, a P/E ratio of 10.12 and a beta of 1.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 0.81.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.14. Ameriprise Financial had a return on equity of 37.97% and a net margin of 14.85%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the company earned $3.70 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Ameriprise Financial will post 15.9 EPS for the current fiscal year.

In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was 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 of the company’s stock, valued at $3,557,389.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MV Capital Management Inc. raised its stake in shares of Ameriprise Financial by 81.5% in the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 88 shares during the last quarter. Farmers National Bank purchased a new position in shares of Ameriprise Financial in the first quarter worth about $31,000. Hanson McClain Inc. raised its stake in shares of Ameriprise Financial by 232.0% in the first quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth about $36,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Ameriprise Financial by 40.4% in the first 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 during the last quarter. 81.11% 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.

Further Reading: What is a Market Correction?

Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.