Ameriprise shares could rise – Barron’s

NEW YORK, Nov 28 (BestGrowthStock) – Ameriprise Financial Inc
(AMP.N: ) 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 (IVZ.N: ) and 13.5 times for Federated Investors
(FII.N: ), Barron’s said.

On the other hand, Principal Financial Group (PFG.N: ) trades
at 9.9 times its 2011 estimates and insurer Prudential
Financial (PRU.N: ) trades at 8.4 times, Barron’s pointed out.
(Reporting by Dhanya Skariachan; Editing by Marguerita Choy)

Ameriprise shares could rise – Barron’s