Ameriprise Financial Rating Reiterated by Zacks (AMP)
Ameriprise Financial (NYSE:AMP)‘s stock had its “hold” rating reiterated by Zacks in a research report issued on Wednesday, American Banking News reports. They currently have a $98.00 price objective on the stock. Zacks‘ price target suggests a potential downside of 1.40% from the company’s current price.
Shares of Ameriprise Financial (NYSE:AMP) traded up 2.10% during mid-day trading on Wednesday, hitting $101.48. 204,632 shares of the company’s stock traded hands. Ameriprise Financial has a 1-year low of $54.22 and a 1-year high of $91.22. The stock has a 50-day moving average of $88.78 and a 200-day moving average of $80.48. The company has a market cap of $20.078 billion and a price-to-earnings ratio of 17.42.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.21. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts expect that Ameriprise Financial will post $6.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.09%.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Ameriprise Financial from $89.00 to $103.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $95.00 to $111.00 in a research note to investors on Monday, October 21st. Finally, analysts at Barclays downgraded shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating in a research note to investors on Wednesday, September 4th. They now have a $96.00 price target on the stock, down previously from $102.00. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $96.70.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
To view Zacks’ full report, visit www.zacks.com
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