William Blair Reaffirms “Outperform” Rating for Ameriprise Financial (NYSE:AMP)

Ameriprise Financial (NYSE:AMPGet Rating)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a research report issued to clients and investors on Tuesday, Zacks.com reports. William Blair also issued estimates for Ameriprise Financial’s Q3 2022 earnings at $6.70 EPS, Q4 2022 earnings at $7.12 EPS, FY2022 earnings at $25.70 EPS, Q1 2023 earnings at $7.32 EPS and Q2 2023 earnings at $7.61 EPS.

Several other equities analysts have also recently weighed in on AMP. Evercore ISI upgraded Ameriprise Financial from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $305.00 to $362.00 in a report on Wednesday, January 5th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $325.00 to $350.00 and gave the company a “buy” rating in a report on Monday, April 4th. Zacks Investment Research cut Ameriprise Financial from a “buy” rating to a “hold” rating and set a $316.00 price objective on the stock. in a report on Wednesday, April 6th. Piper Sandler cut Ameriprise Financial from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $325.00 to $310.00 in a report on Wednesday, April 6th. Finally, Morgan Stanley dropped their target price on Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Buy” and a consensus target price of $338.09.

Shares of AMP stock opened at $266.21 on Tuesday. The stock has a 50-day moving average price of $291.62 and a 200 day moving average price of $299.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 11.54 and a beta of 1.51. Ameriprise Financial has a 12 month low of $236.35 and a 12 month high of $332.37.

Ameriprise Financial (NYSE:AMPGet Rating) last issued its earnings results on Monday, April 25th. The financial services provider reported $5.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.88 by $0.10. Ameriprise Financial had a return on equity of 48.36% and a net margin of 20.55%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $5.43 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that Ameriprise Financial will post 25.56 earnings per share for the current fiscal year.

Ameriprise Financial announced that its board has initiated a stock buyback plan on Wednesday, January 26th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, CEO William F. Truscott sold 16,000 shares of the company’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $305.09, for a total transaction of $4,881,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 5,000 shares of the company’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $311.00, for a total value of $1,555,000.00. The disclosure for this sale can be found here. Insiders sold a total of 103,106 shares of company stock valued at $32,258,469 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Mascoma Wealth Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter worth about $29,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at $32,000. Equitec Proprietary Markets LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at $33,000. Confluence Wealth Services Inc. acquired a new position in Ameriprise Financial in the fourth quarter valued at $39,000. Finally, KRS Capital Management LLC acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 80.53% of the company’s stock.

Ameriprise Financial Company Profile (Get Rating)

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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Analyst Recommendations for Ameriprise Financial (NYSE:AMP)

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