Ameriprise Financial (NYSE:AMP) received a $160.00 target price from stock analysts at Royal Bank of Canada in a research note issued on Friday. The firm currently has a “hold” rating on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 17.84% from the stock’s current price.
Several other brokerages have also recently issued reports on AMP. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Thursday, July 12th. ValuEngine cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Sandler O’Neill set a $150.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a research report on Monday, August 13th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $175.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, July 25th. Finally, Credit Suisse Group reduced their price target on shares of Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $166.63.
Shares of AMP stock traded up $0.40 during mid-day trading on Friday, reaching $135.78. The stock had a trading volume of 1,213,268 shares, compared to its average volume of 1,024,623. Ameriprise Financial has a 52-week low of $129.87 and a 52-week high of $183.90. The stock has a market capitalization of $20.95 billion, a price-to-earnings ratio of 11.07 and a beta of 1.80. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.76.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.09. Ameriprise Financial had a net margin of 13.91% and a return on equity of 36.15%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company earned $2.80 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial will post 14.68 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Ameriprise Financial by 2.7% in the second quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock worth $1,622,270,000 after buying an additional 340,206 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Ameriprise Financial by 3.8% in the second quarter. BlackRock Inc. now owns 10,832,182 shares of the financial services provider’s stock worth $1,515,207,000 after buying an additional 392,679 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Ameriprise Financial by 39.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,052,744 shares of the financial services provider’s stock worth $1,069,813,000 after buying an additional 2,822,483 shares in the last quarter. Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter worth approximately $1,057,281,000. Finally, State Street Corp lifted its stake in shares of Ameriprise Financial by 6.2% in the fourth quarter. State Street Corp now owns 8,434,256 shares of the financial services provider’s stock worth $935,690,000 after buying an additional 488,951 shares in the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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