Morgan Stanley Maintains Equal-Weight Rating for Ameriprise Finl: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Ameriprise Finl AMP and raise its price target from $360.00 to $365.00.

Shares of Ameriprise Finl are trading up 0.14% over the last 24 hours, at $342.91 per share.

A move to $365.00 would account for a 6.44% increase from the current share price.

About Ameriprise Finl

Ameriprise Financial has emerged is a major player in the U.S. market for asset and wealth management, with around $1.3 trillion in total assets under management and advisement at the end of the second quarter of 2023. 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.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.