Ameriprise Financial (NYSE:AMP) Price Target Increased to $173.00 by Analysts at Morgan Stanley

Ameriprise Financial (NYSE:AMP) had its price target increased by Morgan Stanley from $165.00 to $173.00 in a research report released on Wednesday, Stock Target Advisor reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on AMP. Credit Suisse Group dropped their price target on Marathon Petroleum from $95.00 to $80.00 and set an outperform rating for the company in a research note on Monday, May 13th. Ameriprise Financial upgraded Ameriprise Financial from a neutral rating to an outperform rating and upped their price target for the stock from $145.00 to $202.00 in a research note on Monday, May 13th. Citigroup downgraded Barrick Gold to a neutral rating in a research note on Thursday, May 23rd. Barclays upped their price target on T. Rowe Price Group from $90.00 to $95.00 and gave the stock an underweight rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research downgraded German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Ameriprise Financial currently has an average rating of Buy and an average target price of $173.56.

Shares of NYSE:AMP opened at $151.14 on Wednesday. The company’s 50 day moving average is $147.46. The company has a market cap of $20.24 billion, a P/E ratio of 10.12 and a beta of 1.80. 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 has a 12-month low of $95.69 and a 12-month high of $153.91.



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

In other news, EVP Randy Kupper sold 5,160 shares of the 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 in the company, valued at approximately $3,557,389.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. boosted its position in shares of Ameriprise Financial by 81.5% during the 1st quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 88 shares during the last quarter. Farmers National Bank bought a new position in shares of Ameriprise Financial during the 1st quarter valued at approximately $31,000. Hanson McClain Inc. boosted its position in shares of Ameriprise Financial by 232.0% during the 1st quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Ameriprise Financial by 40.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 80 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new stake in Ameriprise Financial during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 81.11% 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 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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