Ameriprise Financial Sets New 52-Week High at $128.18 (AMP)
Shares of Ameriprise Financial (NYSE:AMP) hit a new 52-week high during trading on Tuesday , Analyst Ratings Network.com reports. The stock traded as high as $128.18 and last traded at $126.59, with a volume of 536,763 shares trading hands. The stock had previously closed at $125.76.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $122.63.
The stock has a 50-day moving average of $121.5 and a 200-day moving average of $114.. The company has a market cap of $23.840 billion and a P/E ratio of 17.38.
Ameriprise Financial (NYSE:AMP) last announced 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. Analysts expect that Ameriprise Financial will post $8.41 EPS for the current fiscal year.
In other Ameriprise Financial news, CEO James M. Cracchiolo unloaded 29,563 shares of the stock in a transaction that occurred on 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.
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