2024-02-07 22:43:11 ET
Summary
- Ameriprise Financial gets downgraded slightly to a hold, from its October buy rating, now more cautious than the bullish consensus.
- Though dividend growth is strong, yield is under 2% now as the share price skyrockets above its moving average.
- AMP with strong fundamentals and diversification, it could have at least some risk if further headwinds persist in the overall financials sector, driven by regional banks' office loan exposure.
Quick Overview
It's the middle of the trading week and amidst all of the mainstream media buzz about regional banks as well as Fed chairman Powell's remarks, we are revisiting another stock in what we like to call the diversified financial services sub-sector which encompasses insurance, retirement solutions, asset management, wealth advisory, and more.
So far, this sub-sector has proven to be a hidden gem more often than not.
In the spotlight today is Ameriprise Financial ( AMP ).
It appears both of my prior outlooks on this stock have materialized. Since my June article calling to hold on to this stock, it has gone up +19%. Since my October follow-up coverage calling for a buy on this stock, it is up +18%. ...
Read the full article on Seeking Alpha
For further details see:
Ameriprise Financial: EPS Growth Potential But Low Dividend Yield