Analysts’ Recent Ratings Updates for Ameriprise Financial (AMP)

Several brokerages have updated their recommendations and price targets on shares of Ameriprise Financial (NYSE: AMP) in the last few weeks:

• 10/17/2024 – Ameriprise Financial had its price target raised by analysts at Morgan Stanley from $440.00 to $502.00. They now have an “equal weight” rating on the stock.
• 10/11/2024 – Ameriprise Financial had its price target raised by analysts at Royal Bank of Canada from $500.00 to $535.00. They now have an “outperform” rating on the stock.
• 10/10/2024 – Ameriprise Financial was upgraded by analysts at Keefe, Bruyette & Woods from a “hold” rating to a “strong-buy” rating.
• 10/8/2024 – Ameriprise Financial had its price target raised by analysts at UBS Group AG from $490.00 to $555.00. They now have a “buy” rating on the stock.
• 9/26/2024 – Ameriprise Financial was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $476.00 price target on the stock, down previously from $485.00.

Ameriprise Financial Price Performance

Shares of AMP traded up $0.60 during mid-day trading on Wednesday, hitting $520.16. 203,753 shares of the company traded hands, compared to its average volume of 469,381. The business has a 50-day moving average of $462.17 and a 200 day moving average of $438.49. The stock has a market capitalization of $51.66 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial, Inc. has a one year low of $306.63 and a one year high of $524.89. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company posted $7.44 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts expect that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Finance LLC grew its holdings in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock valued at $1,708,000 after acquiring an additional 113 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Ameriprise Financial by 7.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after buying an additional 8,693 shares during the last quarter. BDF Gestion bought a new stake in Ameriprise Financial during the second quarter worth $2,836,000. Janney Montgomery Scott LLC lifted its stake in Ameriprise Financial by 12.8% in the first quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock valued at $8,242,000 after acquiring an additional 2,139 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Ameriprise Financial in the 1st quarter valued at about $570,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.