Ameriprise Financial (NYSE:AMP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Shares of Ameriprise have marginally underperformed the industry in the past year. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Its fourth-quarter 2018 results were driven by stable revenues and lower costs. The company remains well positioned for growth through improving asset under management (AUM), acquisitions and restructuring initiatives as well as diversified investment portfolio. Further, its capital deployment actions reflect a strong balance sheet position. However, significant outflows in the Asset Management segment continue to be a major concern for the company. Also, elevated expenses are likely to hurt bottom-line growth to some extent.”
Other analysts have also issued reports about the stock. UBS Group reduced their price objective on shares of Ameriprise Financial from $204.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 24th. Morgan Stanley lowered their price objective on Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, January 11th. ValuEngine downgraded Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 25th. Barclays raised Ameriprise Financial from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $165.00 to $135.00 in a report on Wednesday, January 9th. Finally, Royal Bank of Canada set a $134.00 price target on Ameriprise Financial and gave the company a “hold” rating in a report on Saturday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $152.38.
NYSE AMP opened at $129.80 on Tuesday. Ameriprise Financial has a 52 week low of $95.69 and a 52 week high of $163.88. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.66 and a current ratio of 0.68. The firm has a market cap of $18.21 billion, a PE ratio of 8.69 and a beta of 1.89.
Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $3.80 EPS for the quarter, topping the consensus estimate of $3.68 by $0.12. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that Ameriprise Financial will post 15.7 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Financial Counselors Inc. raised its holdings in shares of Ameriprise Financial by 5.0% in the 3rd quarter. Financial Counselors Inc. now owns 112,492 shares of the financial services provider’s stock worth $16,611,000 after purchasing an additional 5,341 shares during the period. First Merchants Corp raised its holdings in shares of Ameriprise Financial by 8.4% in the 3rd quarter. First Merchants Corp now owns 31,643 shares of the financial services provider’s stock worth $4,672,000 after purchasing an additional 2,442 shares during the period. Verition Fund Management LLC raised its holdings in shares of Ameriprise Financial by 35.6% in the 3rd quarter. Verition Fund Management LLC now owns 6,267 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 1,646 shares during the period. Regent Investment Management LLC raised its holdings in shares of Ameriprise Financial by 96.8% in the 4th quarter. Regent Investment Management LLC now owns 10,553 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 5,190 shares during the period. Finally, Teachers Advisors LLC raised its holdings in shares of Ameriprise Financial by 2.2% in the 3rd quarter. Teachers Advisors LLC now owns 575,026 shares of the financial services provider’s stock worth $84,908,000 after purchasing an additional 12,153 shares during the period. Institutional investors own 83.32% 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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