Ameriprise Financial (NYSE:AMP) Upgraded to Hold at Wall Street Zen

Ameriprise Financial (NYSE:AMP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.

AMP has been the topic of a number of other research reports. Raymond James upgraded shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Piper Sandler raised their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. Morgan Stanley raised their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $517.13.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP traded up $3.81 during trading on Friday, hitting $513.94. The company's stock had a trading volume of 404,477 shares, compared to its average volume of 493,482. The company has a 50-day moving average of $483.50 and a 200-day moving average of $517.59. Ameriprise Financial has a 12 month low of $385.74 and a 12 month high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $48.94 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. During the same quarter in the prior year, the business earned $8.39 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its board has authorized a share repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $26,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $26,000. Whipplewood Advisors LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Ameriprise Financial in the fourth quarter valued at $28,000. Finally, TD Capital Management LLC grew its holdings in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

About Ameriprise Financial

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.