Ameriprise Financial (NYSE:AMP) Reaches New 52-Week High at $170.95

Ameriprise Financial, Inc. (NYSE:AMP)’s stock price reached a new 52-week high on Thursday . The company traded as high as $170.95 and last traded at $170.61, with a volume of 27251 shares traded. The stock had previously closed at $168.29.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 16th. Royal Bank of Canada raised shares of Ameriprise Financial from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $149.00 to $190.00 in a research note on Friday, January 3rd. ValuEngine cut shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Finally, Morgan Stanley cut shares of Ameriprise Financial from an “overweight” rating to an “equal weight” rating and set a $175.00 price objective on the stock. in a research note on Tuesday, January 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Ameriprise Financial currently has a consensus rating of “Buy” and a consensus price target of $179.25.

The stock has a market capitalization of $22.04 billion, a price-to-earnings ratio of 11.42 and a beta of 1.86. The stock’s 50 day moving average is $166.48 and its 200 day moving average is $149.26. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.80.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $4.24 EPS for the quarter, beating the Zacks’ consensus estimate of $4.09 by $0.15. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3 billion. Ameriprise Financial had a net margin of 15.31% and a return on equity of 37.50%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.74 EPS. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 16.25 EPS for the current year.

In related news, VP Karen Wilson Thissen sold 303 shares of Ameriprise Financial stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $158.67, for a total transaction of $48,077.01. Following the sale, the vice president now directly owns 14,599 shares in the company, valued at $2,316,423.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 8,100 shares of Ameriprise Financial stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $167.50, for a total transaction of $1,356,750.00. Following the sale, the insider now owns 19,669 shares in the company, valued at $3,294,557.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,880 shares of company stock worth $2,403,127. 1.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AMP. Lenox Wealth Advisors LLC purchased a new position in Ameriprise Financial in the 3rd quarter worth about $25,000. KCS Wealth Advisory acquired a new stake in Ameriprise Financial during the 3rd quarter worth approximately $26,000. Griffin Asset Management Inc. acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $28,000. Capital Bank & Trust Co acquired a new stake in Ameriprise Financial during the 2nd quarter worth approximately $29,000. Finally, Evoke Wealth LLC acquired a new stake in Ameriprise Financial during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 81.32% of the company’s stock.

About Ameriprise Financial (NYSE:AMP)

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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