Ameriprise Financial, Inc. (NYSE:AMP) – Stock analysts at SunTrust Banks increased their Q1 2018 EPS estimates for Ameriprise Financial in a note issued to investors on Thursday. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will post earnings per share of $3.41 for the quarter, up from their previous estimate of $3.26. SunTrust Banks has a “Hold” rating and a $180.00 price target on the stock. SunTrust Banks also issued estimates for Ameriprise Financial’s Q2 2018 earnings at $3.59 EPS, Q3 2018 earnings at $3.67 EPS and Q4 2018 earnings at $3.67 EPS.
Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Thursday, October 5th. Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Barclays restated an “equal weight” rating on shares of Ameriprise Financial in a research report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $161.48.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping the consensus estimate of $2.79 by $0.33. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’s revenue was up 6.3% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in AMP. IHT Wealth Management LLC raised its position in Ameriprise Financial by 284.0% in the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 230 shares during the last quarter. Sun Life Financial INC raised its position in Ameriprise Financial by 10,100.0% in the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,111 shares during the last quarter. D.A. Davidson & CO. raised its position in Ameriprise Financial by 60.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 517 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Ameriprise Financial in the 3rd quarter valued at $200,000. Finally, Shelton Capital Management purchased a new stake in Ameriprise Financial in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 81.39% of the company’s stock.
In related news, insider David Kent Stewart sold 603 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $160.72, for a total value of $96,914.16. Following the completion of the sale, the insider now owns 20,081 shares in the company, valued at approximately $3,227,418.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Charles Neal Maglaque sold 1,754 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $161.01, for a total transaction of $282,411.54. Following the completion of the sale, the chief operating officer now owns 14,697 shares of the company’s stock, valued at approximately $2,366,363.97. The disclosure for this sale can be found here. Insiders have sold a total of 72,466 shares of company stock valued at $11,708,801 in the last 90 days. Insiders own 1.50% of the company’s stock.
About Ameriprise Financial
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.
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