Raymond James Initiates Coverage on Ameriprise Financial (NYSE:AMP)

Equities researchers at Raymond James started coverage on shares of Ameriprise Financial (NYSE:AMPGet Free Report) in a research note issued on Thursday, Briefing.com reports. The firm set a “market perform” rating on the financial services provider’s stock.

Several other analysts have also recently commented on AMP. Morgan Stanley lifted their target price on shares of Ameriprise Financial from $394.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. StockNews.com cut Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. The Goldman Sachs Group raised shares of Ameriprise Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $355.00 to $452.00 in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada upped their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $422.83.

View Our Latest Analysis on AMP

Ameriprise Financial Trading Up 0.5 %

Shares of AMP stock opened at $430.94 on Thursday. The stock has a market cap of $43.18 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.79 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $433.80. The business has a fifty day simple moving average of $398.72 and a 200-day simple moving average of $364.37.

Ameriprise Financial (NYSE:AMPGet Free Report) last posted its earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.67 by $0.08. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. Ameriprise Financial’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.94 EPS. On average, analysts forecast that Ameriprise Financial will post 34.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Insiders have sold 87,285 shares of company stock worth $34,741,478 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in shares of Ameriprise Financial by 1.4% in the 3rd quarter. Signaturefd LLC now owns 2,238 shares of the financial services provider’s stock valued at $738,000 after purchasing an additional 31 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in Ameriprise Financial by 1.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock valued at $1,128,000 after buying an additional 31 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in Ameriprise Financial by 5.1% during the 4th quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock worth $249,000 after buying an additional 32 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Ameriprise Financial by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,176 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 33 shares in the last quarter. Finally, CI Investments Inc. increased its holdings in shares of Ameriprise Financial by 2.6% in the 3rd quarter. CI Investments Inc. now owns 1,336 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 34 shares during the last quarter. 82.62% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.