Morgan Stanley Keeps Equalweight Rating on Ameriprise Financial, Adjusts Price Target to $340
June 6, 2023
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Morgan Stanley recently kept their Equalweight Rating on Ameriprise Financial ($NYSE:AMP) but adjusted the Price Target from $338 to $340. Ameriprise Financial is an American financial services company that offers investments, insurance, banking, and advice for retirement, wealth management, and asset management. The company operates a network of advisors, provides a range of products through its subsidiaries such as Columbia Management Investment Advisers, LLC and RiverSource Life Insurance Company, and works with affiliates such as Ameriprise National Trust Company and Ameriprise Bank.
This could be due to their positive outlook on the future of the company, as well as its ability to continue providing competitive products and services in the financial services industry. Overall, Morgan Stanley’s decision to keep their rating on Ameriprise Financial and adjust their price target is a sign of confidence in the company’s future prospects.
Share Price
On Monday, Ameriprise Financial stock opened at $311.2 and closed at $311.7, down by 0.5% from its last closing price of $313.2. Morgan Stanley believes that the stock still has potential for further growth and is likely to perform well in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ameriprise Financial. More…
| Total Revenues | Net Income | Net Margin |
| 14.36k | 2.21k | 15.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ameriprise Financial. More…
| Operations | Investing | Financing |
| 4.41k | -13.58k | 8.43k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ameriprise Financial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 166.64k | 162.5k | 39.69 |
Key Ratios Snapshot
Some of the financial key ratios for Ameriprise Financial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.3% | – | 20.8% |
| FCF Margin | ROE | ROA |
| 29.4% | 48.1% | 1.1% |
Analysis
We at GoodWhale conducted an analysis of AMERIPRISE FINANCIAL‘s wellbeing. Our Star Chart showed that AMERIPRISE FINANCIAL was strong in dividend, but weak in asset, growth, and profitability. However, their high health score of 8/10 meant that their cashflows and debt were in good condition, allowing them to pay off debt and fund future operations. Based on our analysis, we classified AMERIPRISE FINANCIAL as a ‘cow’; a company with a track record of paying out consistent and sustainable dividends. We believe that this type of company would be appealing to investors who prioritize steady income over rapid growth. Those looking for reliable income streams may find Ameriprise Financial’s dividends attractive. More…
Peers
Ameriprise Financial Inc. is one of the largest financial services companies in the United States with tens of thousands of employees and advisors. The company offers a full range of financial services including banking, investments, insurance, and advice. Ameriprise Financial Inc. has a large network of branches and ATMs across the United States. The company’s competitors include Azimut Holding SPA, KKR & Co Inc, CI Financial Corp, and others.
– Azimut Holding SPA ($OTCPK:AZIHY)
Azimut Holding SPA is a holding company for the Azimut Group, a financial services provider. The Group offers a wide range of services, including asset management, private banking, and insurance. As of 2022, the Group had a market capitalization of 2.89 billion euros and a return on equity of 40.25%. The Group’s products and services are available in more than 20 countries worldwide.
– KKR & Co Inc ($NYSE:KKR)
KKR & Co Inc is a New York City-based global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and hedge funds. The company had a market cap of $44.73B as of 2022 and a ROE of 4.34%. KKR’s portfolio includes some of the world’s leading companies, such as First Data, Dell Technologies, and Walgreens Boots Alliance. The company has a team of over 1,600 professionals operating in 28 countries.
– CI Financial Corp ($TSX:CIX)
CI Financial Corp is a diversified wealth management company that provides financial services to clients through its subsidiaries. The company has a market cap of 2.62B as of 2022 and a ROE of 28.09%. CI Financial’s subsidiaries include CI Investments, Assante Wealth Management, and CI Private Counsel. The company’s primary operations are in Canada, but it also has a presence in the United States, Europe, and Asia.
Summary
Morgan Stanley has recently adjusted their price target for Ameriprise Financial from $338 to $340, while maintaining an Equalweight rating. This adjustment suggests a small but positive change in the expected future performance of Ameriprise Financial’s stock. It is recommended that investors review the company’s financial and operational performance, along with other macro-economic indicators to form an informed decision.
Analysts are optimistic about Ameriprise Financial’s potential growth prospects as the company is well-positioned to benefit from a shift in investor sentiment towards the financial services industry. It is also recommended that investors pay close attention to any major developments in the sector, including any additional government regulations or changes in customer preferences that could positively or negatively impact the company.
