SunTrust Banks Weighs in on Ameriprise Financial, Inc.’s Q1 2018 Earnings (AMP)

Ameriprise Financial, Inc. (NYSE:AMP) – Stock analysts at SunTrust Banks increased their Q1 2018 EPS estimates for Ameriprise Financial in a note issued to investors on Thursday. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will post earnings per share of $3.41 for the quarter, up from their previous estimate of $3.26. SunTrust Banks has a “Hold” rating and a $180.00 price target on the stock. SunTrust Banks also issued estimates for Ameriprise Financial’s Q2 2018 earnings at $3.59 EPS, Q3 2018 earnings at $3.67 EPS and Q4 2018 earnings at $3.67 EPS.

Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Thursday, October 5th. Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a research report on Saturday, December 16th. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Barclays restated an “equal weight” rating on shares of Ameriprise Financial in a research report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $161.48.

Ameriprise Financial (NYSE AMP) opened at $178.81 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. Ameriprise Financial has a twelve month low of $110.97 and a twelve month high of $183.90. The company has a market cap of $26,451.36, a P/E ratio of 16.68 and a beta of 1.93.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping the consensus estimate of $2.79 by $0.33. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The firm’s revenue was up 6.3% on a year-over-year basis.

A number of hedge funds have recently added to or reduced their stakes in AMP. IHT Wealth Management LLC raised its position in Ameriprise Financial by 284.0% in the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 230 shares during the last quarter. Sun Life Financial INC raised its position in Ameriprise Financial by 10,100.0% in the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,111 shares during the last quarter. D.A. Davidson & CO. raised its position in Ameriprise Financial by 60.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 517 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Ameriprise Financial in the 3rd quarter valued at $200,000. Finally, Shelton Capital Management purchased a new stake in Ameriprise Financial in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 81.39% of the company’s stock.

In related news, insider David Kent Stewart sold 603 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $160.72, for a total value of $96,914.16. Following the completion of the sale, the insider now owns 20,081 shares in the company, valued at approximately $3,227,418.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Charles Neal Maglaque sold 1,754 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $161.01, for a total transaction of $282,411.54. Following the completion of the sale, the chief operating officer now owns 14,697 shares of the company’s stock, valued at approximately $2,366,363.97. The disclosure for this sale can be found here. Insiders have sold a total of 72,466 shares of company stock valued at $11,708,801 in the last 90 days. Insiders own 1.50% of the company’s stock.

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About Ameriprise Financial

Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.

Earnings History and Estimates for Ameriprise Financial (NYSE:AMP)

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