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

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

Other equities research analysts also recently issued research reports about the stock. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company 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 report on Wednesday, May 7th. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target on the stock in a research note on Monday, April 7th. Finally, Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Trading Down 0.3%

Shares of AMP traded down $1.30 on Friday, reaching $508.62. 932,956 shares of the company's stock were exchanged, compared to its average volume of 496,008. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $48.43 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The business has a 50 day moving average price of $483.11 and a two-hundred day moving average price of $518.57. Ameriprise Financial has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the previous year, the firm posted $8.39 earnings per share. Ameriprise Financial's revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Ameriprise Financial declared that its Board of Directors has approved a stock buyback program on Thursday, April 24th that allows the company to buyback $4.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 9.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the fourth quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $28,000. Rialto Wealth Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $28,000. Finally, TD Capital Management LLC boosted its holdings in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock worth $29,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Company Profile

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.