Weiss Ratings Reaffirms Buy (B) Rating for Ameriprise Financial (NYSE:AMP)

Key Points

• Weiss Ratings has reiterated a "buy" rating for Ameriprise Financial's stock (NYSE:AMP), highlighting positive investor sentiment.
• Recent analyst reports have resulted in varying price targets, with Raymond James raising it to $582.00 while Morgan Stanley lowered theirs to $484.00.
• Ameriprise Financial reported strong quarterly earnings, exceeding expectations with an EPS of $9.11, alongside a revenue increase of 2.2% year-over-year.

Ameriprise Financial (NYSE:AMP - Get Free Report)'s stock had its "buy (b)" rating reiterated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

AMP has been the subject of several other research reports. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Morgan Stanley lowered their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an "underweight" rating for the company in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They set a "market perform" rating and a $525.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $535.14.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded down $1.87 during trading on Wednesday, reaching $495.92. The company had a trading volume of 132,986 shares, compared to its average volume of 504,160. Ameriprise Financial has a 52 week low of $396.14 and a 52 week high of $582.05. The stock has a market cap of $46.75 billion, a PE ratio of 15.44, a PEG ratio of 1.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The business's 50 day moving average price is $501.97 and its 200-day moving average price is $502.15.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the previous year, the company earned $8.72 EPS. Ameriprise Financial's revenue was up 2.2% on a year-over-year basis. Analysts expect that Ameriprise Financial will post 38.64 earnings per share for the current year.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Ameriprise Financial

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Ameriprise Financial by 1.9% in the first quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider's stock worth $2,114,000 after purchasing an additional 83 shares in the last quarter. Spire Wealth Management raised its position in Ameriprise Financial by 91.6% during the first quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider's stock worth $692,000 after acquiring an additional 683 shares in the last quarter. Ascent Group LLC bought a new stake in Ameriprise Financial during the first quarter worth $371,000. Advisory Alpha LLC bought a new stake in Ameriprise Financial during the first quarter worth $265,000. Finally, Exchange Traded Concepts LLC raised its position in Ameriprise Financial by 488.5% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider's stock worth $470,000 after acquiring an additional 806 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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