Ameriprise Financial (AMP) Hits New 1-Year High at $171.80

Ameriprise Financial, Inc. (NYSE:AMP)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $171.80 and last traded at $170.02, with a volume of 882500 shares trading hands. The stock had previously closed at $167.93.

Several equities analysts have weighed in on the stock. Royal Bank of Canada set a $168.00 target price on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Saturday, December 16th. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. SunTrust Banks raised their target price on shares of Ameriprise Financial from $140.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a report on Thursday, October 5th. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $152.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Ameriprise Financial currently has a consensus rating of “Buy” and an average price target of $155.64.

The stock has a market capitalization of $25,310.00, a price-to-earnings ratio of 14.46 and a beta of 1.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.67 and a quick ratio of 0.67.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.33. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. equities analysts predict that Ameriprise Financial, Inc. will post 12.14 earnings per share for the current fiscal year.

In other news, insider Joseph Edward Sweeney sold 7,329 shares of Ameriprise Financial stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $169.47, for a total transaction of $1,242,045.63. Following the completion of the sale, the insider now directly owns 37,991 shares in the company, valued at $6,438,334.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Charles Neal Maglaque sold 1,754 shares of Ameriprise Financial stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $161.01, for a total transaction of $282,411.54. Following the sale, the chief operating officer now owns 14,697 shares of the company’s stock, valued at $2,366,363.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,649 shares of company stock valued at $10,882,637. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Ameriprise Financial by 499.6% in the third quarter. Victory Capital Management Inc. now owns 552,144 shares of the financial services provider’s stock worth $81,999,000 after acquiring an additional 460,058 shares during the last quarter. Vanguard Group Inc. boosted its position 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 acquiring an additional 340,206 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Ameriprise Financial by 21.6% in the second quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock worth $242,543,000 after acquiring an additional 338,452 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Ameriprise Financial by 147.7% in the third quarter. Canada Pension Plan Investment Board now owns 504,364 shares of the financial services provider’s stock worth $74,903,000 after acquiring an additional 300,748 shares during the last quarter. Finally, Samlyn Capital LLC boosted its position in shares of Ameriprise Financial by 238.1% in the second quarter. Samlyn Capital LLC now owns 413,106 shares of the financial services provider’s stock worth $52,584,000 after acquiring an additional 290,921 shares during the last quarter. Institutional investors and hedge funds own 81.51% 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.

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