Ameriprise Financial, Inc. (NYSE:AMP) Given Average Recommendation of “Buy” by Brokerages

Ameriprise Financial, Inc. (NYSE:AMP) has been assigned an average rating of “Buy” from the eleven brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $176.50.

A number of research analysts have issued reports on the company. Credit Suisse Group decreased their price target on Marathon Petroleum from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Zacks Investment Research downgraded German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Morgan Stanley boosted their price target on Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a report on Wednesday, July 10th. Argus assumed coverage on Ameriprise Financial in a report on Friday, July 5th. They issued a “buy” rating for the company. Finally, Barclays boosted their price target on T. Rowe Price Group from $90.00 to $95.00 and gave the company an “underweight” rating in a report on Thursday, April 25th.

In other news, EVP Randy Kupper sold 5,160 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $150.38, for a total transaction of $775,960.80. Following the completion of the transaction, the executive vice president now directly owns 23,656 shares of the company’s stock, valued at approximately $3,557,389.28. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. MV Capital Management Inc. increased its position in shares of Ameriprise Financial by 81.5% during the first quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 88 shares in the last quarter. NEXT Financial Group Inc increased its position in shares of Ameriprise Financial by 46.6% during the second quarter. NEXT Financial Group Inc now owns 236 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 75 shares in the last quarter. Farmers National Bank purchased a new stake in shares of Ameriprise Financial during the first quarter worth approximately $31,000. Hanson McClain Inc. increased its position in shares of Ameriprise Financial by 232.0% during the first quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Ameriprise Financial by 40.4% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 80 shares in the last quarter. 80.91% of the stock is owned by institutional investors and hedge funds.

NYSE AMP traded down $1.42 during trading hours on Friday, reaching $148.66. The stock had a trading volume of 711,266 shares, compared to its average volume of 825,074. The company’s fifty day moving average is $148.17. The stock has a market cap of $20.10 billion, a PE ratio of 9.95 and a beta of 1.80. Ameriprise Financial has a 52-week low of $95.69 and a 52-week high of $153.91. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 EPS for the quarter, beating the Zacks’ consensus estimate of $3.61 by $0.14. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. Ameriprise Financial had a return on equity of 37.97% and a net margin of 14.85%. Ameriprise Financial’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 earnings per share. On average, equities analysts forecast that Ameriprise Financial will post 15.9 earnings per share for the current fiscal year.

Ameriprise Financial Company Profile

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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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