Shares of Ameriprise Financial Inc. (NYSE:AMP) traded today at $292.77, eclipsing its 52-week high. This new high was reached on below average trading volume as 88,000 shares traded hands, while the average 30-day volume is approximately 469,000 shares.
Spun off from American Express in 2005, Ameriprise Financial has emerged as a major player in the U.S. market for asset and wealth management, with around $1.1 trillion in total assets under management and advisement at the end of 2020. Ameriprise has one of the largest branded advisor networks in the industry, and about 80% of the company’s revenue comes from its asset and wealth management segments. Ameriprise has reduced its exposure to insurance with the sale of its auto and home insurance business in 2019 and discontinuing the sale of its proprietary fixed annuities in 2020. Around 90% of the company’s pretax earnings are from the United States.
Ameriprise Financial Inc. share prices have moved between a 52-week high of $292.77 and a 52-week low of $155.33 and are now trading 88% above that low price at $292.65 per share.
Ameriprise Financial Inc. has overhead space with shares priced $292.65, or 25.3% below the average consensus analyst price target of $391.51.
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