BMO Capital Markets Begins Coverage on Ameriprise Financial (NYSE:AMP)

Key Points

• BMO Capital Markets has initiated coverage on Ameriprise Financial (NYSE: AMP) with a "market perform" rating and a price target of $525, indicating a potential upside of 6.85% from the current stock price.
• Recent analyst activity includes William Blair downgrading Ameriprise from "outperform" to "market perform," while Royal Bank of Canada raised its target price from $595 to $601 with an "outperform" rating.
• Ameriprise Financial's recent earnings report surpassed expectations, with an EPS of $9.11 for the quarter, compared to a consensus estimate of $9.00, indicating a positive revenue growth of 2.2% year-over-year.

Research analysts at BMO Capital Markets assumed coverage on shares of Ameriprise Financial (NYSE:AMP - Get Free Report) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a "market perform" rating and a $525.00 price target on the financial services provider's stock. BMO Capital Markets' target price would indicate a potential upside of 6.85% from the company's current price.

Other research analysts have also issued research reports about the company. William Blair lowered Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Morgan Stanley cut their price objective on Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Piper Sandler raised their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada raised their target price on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of "Hold" and an average target price of $535.14.

Ameriprise Financial Stock Performance

AMP opened at $491.33 on Friday. The stock has a market cap of $46.32 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.03 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The stock's 50 day simple moving average is $503.52 and its 200 day simple moving average is $502.08. Ameriprise Financial has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The firm had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.72 EPS. As a group, equities analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current fiscal year.

Insider Activity at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont increased its holdings in Ameriprise Financial by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider's stock worth $1,618,000 after acquiring an additional 19 shares in the last quarter. Plancorp LLC grew its holdings in Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider's stock valued at $213,000 after buying an additional 20 shares in the last quarter. Old Port Advisors grew its holdings in Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider's stock valued at $737,000 after buying an additional 20 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider's stock valued at $2,186,000 after buying an additional 20 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider's stock valued at $665,000 after buying an additional 21 shares in the last quarter. Institutional investors 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.

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