Ameriprise Financial (AMP) Price Target Raised to $190.00 at Morgan Stanley

Ameriprise Financial (NYSE:AMP) had its target price lifted by equities researchers at Morgan Stanley from $187.00 to $190.00 in a research note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 9.74% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Wednesday, January 10th. ValuEngine cut Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Barclays reaffirmed an “equal weight” rating on shares of Ameriprise Financial in a research report on Monday, October 2nd. SunTrust Banks lifted their price target on Ameriprise Financial from $9.64 to $180.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. Finally, Royal Bank of Canada set a $149.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ameriprise Financial has a consensus rating of “Buy” and a consensus target price of $164.98.

Shares of Ameriprise Financial (NYSE:AMP) traded down $7.18 on Thursday, reaching $173.13. The company’s stock had a trading volume of 1,920,000 shares, compared to its average volume of 1,134,041. Ameriprise Financial has a 12 month low of $110.97 and a 12 month high of $183.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. The firm has a market cap of $25,610.00, a PE ratio of 16.17 and a beta of 1.93.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a return on equity of 29.75% and a net margin of 14.24%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the firm posted $2.46 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. equities research analysts predict that Ameriprise Financial will post 12.08 EPS for the current fiscal year.

In other news, COO Charles Neal Maglaque sold 1,754 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $161.01, for a total value of $282,411.54. Following the completion of the transaction, the chief operating officer now owns 14,697 shares of the company’s stock, valued at approximately $2,366,363.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James M. Cracchiolo sold 2,428 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $161.07, for a total value of $391,077.96. Following the completion of the transaction, the chief executive officer now directly owns 242,013 shares of the company’s stock, valued at approximately $38,981,033.91. The disclosure for this sale can be found here. In the last three months, insiders sold 59,159 shares of company stock valued at $9,566,800. Insiders own 1.50% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Montecito Bank & Trust lifted its holdings in shares of Ameriprise Financial by 19.5% in the 3rd quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock valued at $363,000 after buying an additional 399 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $25,127,000. Wasatch Advisors Inc. acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $352,000. Legacy Private Trust Co. lifted its holdings in shares of Ameriprise Financial by 12.1% in the 4th quarter. Legacy Private Trust Co. now owns 29,143 shares of the financial services provider’s stock valued at $4,939,000 after buying an additional 3,138 shares during the period. Finally, Gs Investments Inc. acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at about $2,384,000. 81.39% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Ameriprise Financial (NYSE:AMP)