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Why Ameriprise Financial Services (AMP) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2 min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Ameriprise Financial Services (AMP)

Headquartered in Minneapolis, MN, Ameriprise Financial, Inc. was founded in 1894 under the name Investors Syndicate. Notably, since 2005-end, Ameriprise has been operating independently of American Express Company. As of Dec 31, 2023, the company owned, managed and administered assets worth $1.36 trillion.

AMP is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 3.3% over the past one week and up 1.8% over the past four weeks. AMP has gained 48% in the last one-year period as well. Looking at trading volume, an average of 530,623.75 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for AMP, while the Zacks Consensus Estimate has increased $0.62 to $34.74 per share. AMP also boasts an average earnings surprise of 2%.

AMP should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Ameriprise Financial, Inc. (AMP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research