What’s Propelling Ameriprise Financial, Inc. (AMP) to Reach All Time High?

October 13, 2017 - By Hazel Jackson

Investors sentiment increased to 1.12 in Q2 2017. Its up 0.25, from 0.87 in 2017Q1. It is positive, as 39 investors sold Ameriprise Financial, Inc. shares while 202 reduced holdings. 77 funds opened positions while 192 raised stakes. 114.55 million shares or 3.72% less from 118.98 million shares in 2017Q1 were reported.
9,627 were accumulated by Weaver C Barksdale Assoc. Meeder Asset Mgmt invested 0.33% in Ameriprise Financial, Inc. (NYSE:AMP). Meiji Yasuda Life Insurance Co reported 0.07% stake. Denali Limited Com reported 0.33% of its portfolio in Ameriprise Financial, Inc. (NYSE:AMP). Price T Rowe Associates Inc Md, a Maryland-based fund reported 7.47 million shares. Moreover, Glg Ltd Liability Corp has 0.07% invested in Ameriprise Financial, Inc. (NYSE:AMP) for 9,326 shares. Regions Corp invested in 13,376 shares or 0.02% of the stock. Massachusetts-based Colony Grp Incorporated Ltd Com has invested 0.12% in Ameriprise Financial, Inc. (NYSE:AMP). Barclays Public Lc owns 56,504 shares. Fred Alger Mgmt has invested 0% in Ameriprise Financial, Inc. (NYSE:AMP). Ancora Advisors Ltd Limited Liability Company accumulated 2,000 shares. Focused Wealth Mngmt Inc accumulated 1,300 shares. 4,523 are owned by Dreman Value Mngmt L L C. Lombard Odier Asset Management (Europe) has 2,290 shares. Hancock owns 0.04% invested in Ameriprise Financial, Inc. (NYSE:AMP) for 7,035 shares.

Since May 8, 2017, it had 0 insider buys, and 1 insider sale for $121,458 activity. The insider HUNTER KELLI A sold $121,458.

The stock of Ameriprise Financial, Inc. (NYSE:AMP) reached all time high today, Oct, 13 and still has $160.56 target or 5.00 % above today’s $152.91 share price. This indicates more upside for the $22.93B company. This technical setup was reported by Barchart.com. If the $160.56 PT is reached, the company will be worth $1.15B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.22% or $0.34 during the last trading session, reaching $152.91. About 736,009 shares traded. Ameriprise Financial, Inc. (NYSE:AMP) has risen 30.25% since October 13, 2016 and is uptrending. It has outperformed by 13.55% the S&P500.

Analysts await Ameriprise Financial, Inc. (NYSE:AMP) to report earnings on October, 24. They expect $2.79 EPS, up 21.83 % or $0.50 from last year’s $2.29 per share. AMP’s profit will be $418.38M for 13.70 P/E if the $2.79 EPS becomes a reality. After $2.80 actual EPS reported by Ameriprise Financial, Inc. for the previous quarter, Wall Street now forecasts -0.36 % negative EPS growth.

Ameriprise Financial, Inc. (NYSE:AMP) Ratings Coverage

Among 13 analysts covering Ameriprise Financial (NYSE:AMP), 6 have Buy rating, 0 Sell and 7 Hold. Therefore 46% are positive. Ameriprise Financial had 33 analyst reports since September 7, 2015 according to SRatingsIntel. The firm earned “Sector Perform” rating on Friday, June 30 by RBC Capital Markets. The company was maintained on Wednesday, April 6 by Citigroup. As per Wednesday, July 26, the company rating was maintained by Morgan Stanley. Barclays Capital maintained it with “Equal-Weight” rating and $123 target in Thursday, October 22 report. The stock of Ameriprise Financial, Inc. (NYSE:AMP) has “Outperform” rating given on Monday, October 12 by Keefe Bruyette & Woods. Suntrust Robinson downgraded Ameriprise Financial, Inc. (NYSE:AMP) on Monday, December 19 to “Hold” rating. The company was downgraded on Friday, October 14 by Deutsche Bank. The stock has “Outperform” rating by RBC Capital Markets on Thursday, April 28. The stock has “Overweight” rating by Morgan Stanley on Thursday, October 5. As per Friday, January 29, the company rating was maintained by Barclays Capital.

More news for Ameriprise Financial, Inc. (NYSE:AMP) were recently published by: Businesswire.com, which released: “AM Best Affirms Credit Ratings of Ameriprise Financial, Inc. and Its Subsidiaries” on September 28, 2017. Investmentnews.com‘s article titled: “Top scandals among sports figures and the financial advice industry” and published on October 12, 2017 is yet another important article.

Ameriprise Financial, Inc. is a financial services firm that offers financial solutions to individual and institutional clients. The company has market cap of $22.93 billion. The Firm operates in five divisions: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. It has a 17.43 P/E ratio. The Firm uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail services and products.

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