Barclays Increases Ameriprise Financial Price Target to $122.00 (AMP)
Equities researchers at Barclays raised their price target on shares of Ameriprise Financial (NYSE:AMP) from $96.00 to $122.00 in a research report issued on Tuesday, ARN reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price would suggest a potential upside of 7.39% from the company’s current price.
A number of other analysts have also recently weighed in on AMP. Analysts at UBS AG reiterated a “buy” rating on shares of Ameriprise Financial in a research note to investors on Monday. They now have a $125.00 price target on the stock, up previously from $110.00. Separately, analysts at Sandler O’Neill raised their price target on shares of Ameriprise Financial from $104.00 to $114.00 in a research note to investors on Friday, December 20th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Ameriprise Financial in a research note to investors on Thursday, December 19th. They now have a $117.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $111.90.
Ameriprise Financial (NYSE:AMP) traded up 0.85% on Tuesday, hitting $114.57. The stock had a trading volume of 791,290 shares. Ameriprise Financial has a 52 week low of $63.59 and a 52 week high of $115.72. The stock has a 50-day moving average of $109.4 and a 200-day moving average of $95.49. The company has a market cap of $22.288 billion and a P/E ratio of 16.75.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, October 30th. The company reported $1.91 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.32 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts predict that Ameriprise Financial will post $6.97 earnings per share for the current fiscal year.
In other Ameriprise Financial news, Insider David Kent Stewart unloaded 1,000 shares of the stock on the open market in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $115.12, for a total transaction of $115,120.00. Following the sale, the insider now directly owns 15,543 shares in the company, valued at approximately $1,789,310. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.