Ameriprise Financial Assigned “BBB+” Credit Rating (AMP)
Ameriprise Financial (NYSE:AMP) has been given a “BBB+” credit rating by Morningstar. The agency’s “BBB+” rating indicates that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on AMP. Analysts at Morgan Stanley downgraded shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 11th. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ameriprise Financial in a research note on Thursday, July 31st. They now have a $127.00 price target on the stock, up previously from $125.00. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Ameriprise Financial in a research note on Wednesday, July 30th. They now have a $118.00 price target on the stock, up previously from $117.00. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $122.63.
Ameriprise Financial (NYSE:AMP) opened at 125.76 on Tuesday. Ameriprise Financial has a one year low of $85.93 and a one year high of $127.00. The stock’s 50-day moving average is $121.5 and its 200-day moving average is $114.. The company has a market cap of $23.542 billion and a P/E ratio of 17.31.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, July 29th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.07. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Ameriprise Financial will post $8.41 earnings per share for the current fiscal year.
In other Ameriprise Financial news, CEO James M. Cracchiolo sold 29,563 shares of Ameriprise Financial stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $122.56, for a total transaction of $3,623,241.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Ameriprise Financial, Inc (NYSE:AMP) is a holding company primarily engaged in business through its subsidiaries.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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