Price Change to Note: Could Ameriprise Financial, Inc. Change Direction After Touching 52-Week High?

Price Change to Note: Could Ameriprise Financial, Inc. Change Direction After Touching 52 Week High?

The stock of Ameriprise Financial, Inc. (NYSE:AMP) hit a new 52-week high and has $123.19 target or 7.00% above today’s $115.13 share price. The 7 months bullish chart indicates low risk for the $18.55 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $123.19 price target is reached, the company will be worth $1.30B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 593,416 shares traded hands. Ameriprise Financial, Inc. (NYSE:AMP) has risen 16.39% since April 28, 2016 and is uptrending. It has outperformed by 10.46% the S&P500.

Analysts await Ameriprise Financial, Inc. (NYSE:AMP) to report earnings on January, 25. They expect $2.40 earnings per share, down 2.83% or $0.07 from last year’s $2.47 per share. AMP’s profit will be $386.69M for 11.99 P/E if the $2.40 EPS becomes a reality. After $2.29 actual earnings per share reported by Ameriprise Financial, Inc. for the previous quarter, Wall Street now forecasts 4.80% EPS growth.

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

Out of 9 analysts covering Ameriprise Financial (NYSE:AMP), 3 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 33% are positive. Ameriprise Financial has been the topic of 18 analyst reports since September 7, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Ameriprise Financial, Inc. (NYSE:AMP) on Friday, January 29 with “Equal-Weight” rating. The stock of Ameriprise Financial, Inc. (NYSE:AMP) has “Outperform” rating given on Monday, January 11 by Credit Suisse. The stock of Ameriprise Financial, Inc. (NYSE:AMP) earned “Hold” rating by Zacks on Monday, September 7. On Wednesday, January 13 the stock rating was downgraded by Wells Fargo to “Market Perform”. The firm has “Neutral” rating by Credit Suisse given on Friday, October 7. The rating was maintained by RBC Capital Markets on Thursday, April 28 with “Outperform”. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, October 22 report. The rating was maintained by Citigroup with “Neutral” on Wednesday, April 6. The company was initiated on Wednesday, March 23 by SunTrust. As per Monday, October 12, the company rating was maintained by Keefe Bruyette & Woods.

According to Zacks Investment Research, “AMERIPRISE FINANCIAL, INC. is a financial planning and services company with financial advisors and registered representatives that provides solutions for clients’ asset accumulation, income management and insurance protection needs. The Company’s financial advisors deliver tailored solutions to clients through a personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The Company specializes in meeting the retirement-related financial needs of the mass affluent and affluent. Financial planning services and investments are available through Ameriprise Financial Services, Inc. Member FINRA and SIPC.”

Insitutional Activity: The institutional sentiment decreased to 0.75 in Q2 2016. Its down 0.19, from 0.94 in 2016Q1. The ratio dropped, as 50 funds sold all Ameriprise Financial, Inc. shares owned while 208 reduced positions. 61 funds bought stakes while 181 increased positions. They now own 124.67 million shares or 7.74% less from 135.13 million shares in 2016Q1.
Moreover, Shinko Asset Management Co Ltd has 0% invested in Ameriprise Financial, Inc. (NYSE:AMP) for 456 shares. Nippon Life Global Investors Americas has 1.17% invested in the company for 135,765 shares. Washington Tru Bancshares last reported 360 shares in the company. Signaturefd Lc holds 0.01% or 563 shares in its portfolio. Piedmont Invest Advsr Ltd Limited Liability Company has 0% invested in the company for 751 shares. Endeavour Capital holds 0.33% or 49,655 shares in its portfolio. Bluecrest Cap Limited reported 4,534 shares or 0.02% of all its holdings. Marshall Wace Limited Liability Partnership owns 4,057 shares or 0% of their US portfolio. Regentatlantic Capital Limited Liability, a New Jersey-based fund reported 5,628 shares. Winton Capital Grp Ltd holds 363,263 shares or 0.54% of its portfolio. Maverick Capital Ltd last reported 0.01% of its portfolio in the stock. Foundry Partners Ltd Liability Corp accumulated 86,329 shares or 0.44% of the stock. Bridges Counsel Inc, a Nebraska-based fund reported 14,475 shares. Hbk Investments Lp, a Texas-based fund reported 6,303 shares. Bragg Advsr accumulated 54,653 shares or 0.89% of the stock.

Insider Transactions: Since June 29, 2016, the stock had 1 insider purchase, and 4 insider sales for $1.55 million net activity. Woerner John Robert had sold 4,513 shares worth $454,518 on Wednesday, September 7. 4,129 Ameriprise Financial, Inc. (NYSE:AMP) shares with value of $416,263 were sold by Kupper Randy. $469,681 worth of shares were sold by Junek John Carl on Wednesday, September 7. GREENBERG LON R bought $343,906 worth of stock or 3,900 shares.

AMP Company Profile

Ameriprise Financial, Inc., incorporated on October 29, 1983, is a diversified financial services firm that offers financial solutions to individual and institutional clients. The Firm operates in five divisions: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. 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. The retail services and products that use the Ameriprise Financial brand include those that the Company provides through its advisors (financial planning investment advisory accounts and retail brokerage services) and services and products that the Company markets directly to clients or through affinity groups (personal auto and home insurance). The Firm uses its RiverSource brand for its annuity and protection products issued by the RiverSource Life companies, including its life and disability income insurance products. The Company’s brand, Columbia Threadneedle Investments, has asset management capabilities.

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