Ameriprise Financial (AMP) Upgraded by Credit Suisse Group to Outperform

Credit Suisse Group upgraded shares of Ameriprise Financial (NYSE:AMP) from a neutral rating to an outperform rating in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm currently has $202.00 price objective on the financial services provider’s stock, up from their prior price objective of $145.00.

Several other brokerages have also recently commented on AMP. Zacks Investment Research upgraded Ameriprise Financial from a hold rating to a buy rating and set a $164.00 target price on the stock in a report on Tuesday, April 30th. Royal Bank of Canada set a $147.00 target price on Ameriprise Financial and gave the company a hold rating in a report on Friday, April 26th. UBS Group upped their target price on Ameriprise Financial from $175.00 to $180.00 and gave the company a buy rating in a report on Thursday, April 25th. Barclays upped their target price on Ameriprise Financial from $146.00 to $171.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, Citigroup upped their target price on Ameriprise Financial from $153.00 to $170.00 and gave the company a buy rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $170.67.

Shares of AMP stock opened at $142.52 on Monday. Ameriprise Financial has a one year low of $95.69 and a one year high of $153.15. The company has a market capitalization of $18.66 billion, a P/E ratio of 9.54 and a beta of 1.95. 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 announced its earnings results on Wednesday, April 24th. The financial services provider reported $3.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.14. Ameriprise Financial had a return on equity of 37.97% and a net margin of 14.85%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ameriprise Financial will post 15.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is presently 25.97%.

In other Ameriprise Financial news, EVP Colin Moore sold 24,032 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $133.64, for a total transaction of $3,211,636.48. Following the transaction, the executive vice president now directly owns 56,447 shares in the company, valued at approximately $7,543,577.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of AMP. MV Capital Management Inc. boosted its holdings 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 worth $25,000 after buying an additional 88 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $30,000. Enlightenment Research LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $31,000. Farmers National Bank bought a new position in shares of Ameriprise Financial during the 1st quarter worth approximately $31,000. Finally, Hanson McClain Inc. boosted its holdings 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 worth $32,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 85.72% 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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