NEW YORK, Nov 28 (Reuters) - Ameriprise Financial Inc shares could rise to about $66 from $52 currently, as the firm expands further into money management, Barron's wrote in its Nov. 29 edition.
'Ameriprise was the rare financial-services company with the cash to make acquisitions during the financial crisis. It's become a money manager, but is still valued like an insurer,' the financial weekly said.
Ameriprise's stock has risen 34 percent to $52.20 in 2010. However, it still trades at a 'paltry' 10 times 2011 earnings estimates of $5.20 a share, compared with 12.9 times for fund manager Invesco and 13.5 times for Federated Investors , Barron's said.
On the other hand, Principal Financial Group trades at 9.9 times its 2011 estimates and insurer Prudential Financial trades at 8.4 times, Barron's pointed out.
(Reporting by Dhanya Skariachan; Editing by Marguerita Choy) Keywords: AMERIPRISE/ (dhanya.skariachan @thomsonreuters.com; + 1 646 223 6191; Reuters Messaging:dhanya.skariachan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Ameriprise was the rare financial-services company with the cash to make acquisitions during the financial crisis. It's become a money manager, but is still valued like an insurer,' the financial weekly said.
Ameriprise's stock has risen 34 percent to $52.20 in 2010. However, it still trades at a 'paltry' 10 times 2011 earnings estimates of $5.20 a share, compared with 12.9 times for fund manager Invesco and 13.5 times for Federated Investors , Barron's said.
On the other hand, Principal Financial Group trades at 9.9 times its 2011 estimates and insurer Prudential Financial trades at 8.4 times, Barron's pointed out.
(Reporting by Dhanya Skariachan; Editing by Marguerita Choy) Keywords: AMERIPRISE/ (dhanya.skariachan @thomsonreuters.com; + 1 646 223 6191; Reuters Messaging:dhanya.skariachan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.