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RJF - Ameriprise: Fantastic Compounder And Under 8x Earnings But Caution Is Warranted
Raymond James Financial Inc.
Ameriprise (AMP) is a name I wrote up last Fall 2018, as the market was taking a dive. With market volatility picking up again, Ameriprise has also dropped substantially in recent weeks from $150 to under $130 per share. Given this recent drubbing, the stock is roughly flat over the past year, vs the market up 5%.
With a new interest rate environment however, as well as the lateness of the cycle, it is a name worth revisiting. Overall, Ameriprise is insanely cheap, trading at 8x this year’s earnings, well below peers RJF