Ameriprise Financial (AMP) Given New $180.00 Price Target at SunTrust Banks

Ameriprise Financial (NYSE:AMP) had its target price increased by investment analysts at SunTrust Banks from $9.64 to $180.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price target points to a potential upside of 0.67% from the stock’s current price. SunTrust Banks also issued estimates for Ameriprise Financial’s Q1 2018 earnings at $3.41 EPS, Q2 2018 earnings at $3.59 EPS, Q3 2018 earnings at $3.67 EPS and Q4 2018 earnings at $3.67 EPS.

AMP has been the subject of several other research reports. Barclays reiterated an “equal weight” rating on shares of Ameriprise Financial in a research report on Monday, October 2nd. Royal Bank of Canada set a $168.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. Zacks Investment Research lowered Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. ValuEngine lowered Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $161.48.

Shares of Ameriprise Financial (AMP) traded up $1.24 during trading on Friday, hitting $178.81. The stock had a trading volume of 1,233,249 shares, compared to its average volume of 737,289. The stock has a market capitalization of $26,267.93, a price-to-earnings ratio of 16.68 and a beta of 1.93. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. Ameriprise Financial has a 52-week low of $110.97 and a 52-week high of $183.90.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.79 by $0.33. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.97 billion. Ameriprise Financial had a return on equity of 29.75% and a net margin of 14.24%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. sell-side analysts forecast that Ameriprise Financial will post 12.12 earnings per share for the current fiscal year.

In other Ameriprise Financial news, Chairman James M. Cracchiolo sold 42,228 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $159.33, for a total transaction of $6,728,187.24. Following the completion of the transaction, the chairman now owns 242,013 shares in the company, valued at $38,559,931.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Kent Stewart sold 4,817 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $171.51, for a total value of $826,163.67. Following the transaction, the insider now owns 29,727 shares of the company’s stock, valued at approximately $5,098,477.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,466 shares of company stock valued at $11,708,801. 1.50% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. National Asset Management Inc. boosted its position in shares of Ameriprise Financial by 1.0% during the second quarter. National Asset Management Inc. now owns 3,165 shares of the financial services provider’s stock valued at $406,000 after buying an additional 32 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Ameriprise Financial by 2.3% during the second quarter. Thrivent Financial For Lutherans now owns 5,790 shares of the financial services provider’s stock valued at $737,000 after buying an additional 130 shares during the period. ETRADE Capital Management LLC boosted its position in shares of Ameriprise Financial by 6.3% during the second quarter. ETRADE Capital Management LLC now owns 2,239 shares of the financial services provider’s stock valued at $285,000 after buying an additional 132 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of Ameriprise Financial by 1.3% during the second quarter. Ontario Teachers Pension Plan Board now owns 10,498 shares of the financial services provider’s stock valued at $1,336,000 after buying an additional 134 shares during the period. Finally, Advisory Services Network LLC boosted its position in shares of Ameriprise Financial by 4.0% during the second quarter. Advisory Services Network LLC now owns 4,043 shares of the financial services provider’s stock valued at $515,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.

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Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.

The Fly

Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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