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Ameriprise Financial, Inc. (AMP), headquartered in Minneapolis, Minnesota, is a leading diversified financial services company. With a market cap of $43.74 billion, Ameriprise plays a crucial role in the financial industry, offering a broad range of services, including asset management, wealth management, insurance, and financial planning. Competing with other major financial firms like Charles Schwab Corporation (SCHW), Ameriprise continues strengthening its market presence through a client-focused approach and a strong commitment to innovation and excellence in financial services.
Companies valued at $10 billion or more are generally considered "large-cap" stocks and Ameriprise Financial fits this criterion perfectly, signifying its substantial size, stability, and influence in the financial services industry. As a prominent asset management and financial planning player, Ameriprise’s extensive market presence and industry expertise make it a trusted partner for individuals and institutions seeking comprehensive and reliable financial solutions.
Shares of AMP have climbed to a new high of $446.32 in the last trading session, with AMP up 1.9% over the last three months. Over this same period, the iShares U.S. Financial Services ETF (IYG) has gained less than 1%, so AMP outperforms.
In the long term, AMP is up 15.9% YTD, and the shares have returned 38.9% over the past 52 weeks. In comparison, IYG has gained 9.9% in 2024 and rallied 29.1% over the past year.
To confirm the recent bullish price trend, AMP has been trading above its 200-day moving average since early November 2023 and 50-day moving average since mid-June.
Ameriprise Financial reported impressive financial results for Q1 on Apr. 22 and raised its dividend by 10% to $1.48 per share. The stock gained 1.1% on the earnings release day. However, it declined 3.3% the following day. The company announced an EPS of $8.39, which exceeded Wall Street's forecasts of $8.10 by 3.6%.
Highlighting the contrast in performance, rival SCHW has underperformed both AMP and IYG, with a 7.9% gain on a YTD basis.
With its recent outperformance compared to IYG, analysts are moderately optimistic about AMP's prospects. The stock has a consensus rating of "Moderate Buy" from 12 analysts in coverage. The mean price target of $458.11 reflects a 4.2% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
