Stock analysts at Credit Suisse Group AG started coverage on shares of Ameriprise Financial Services Inc. (NYSE:AMP) in a note issued to investors on Friday. The firm set a “neutral” rating and a $116.00 price target on the stock. Credit Suisse Group AG’s price target suggests a potential upside of 14.15% from the company’s current price.
Other research analysts also recently issued reports about the company. Morgan Stanley reiterated a “buy” rating and set a $120.00 price objective on shares of Ameriprise Financial Services in a research note on Thursday, July 28th. Deutsche Bank AG boosted their price objective on Ameriprise Financial Services from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Evercore ISI started coverage on Ameriprise Financial Services in a research note on Wednesday, July 6th. They set a “buy” rating and a $110.00 price objective for the company. UBS AG reiterated a “buy” rating and set a $120.00 price objective (down from $125.00) on shares of Ameriprise Financial Services in a research note on Wednesday, June 29th. Finally, Zacks Investment Research upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.00.
Ameriprise Financial Services (NYSE:AMP) opened at 101.62 on Friday. The stock has a 50 day moving average of $99.86 and a 200 day moving average of $96.90. Ameriprise Financial Services has a one year low of $76.00 and a one year high of $120.29. The company has a market cap of $16.40 billion, a PE ratio of 12.33 and a beta of 1.64.
Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.26 by $0.03. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. On average, analysts anticipate that Ameriprise Financial Services will post $9.27 earnings per share for the current fiscal year.
In other Ameriprise Financial Services news, insider John Robert Woerner sold 4,513 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $100.71, for a total value of $454,504.23. Following the transaction, the insider now owns 39,443 shares of the company’s stock, valued at approximately $3,972,304.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randy Kupper sold 4,129 shares of the company’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $100.81, for a total value of $416,244.49. Following the completion of the transaction, the executive vice president now directly owns 22,835 shares in the company, valued at approximately $2,301,996.35. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Algebris Investments UK LLP acquired a new position in shares of Ameriprise Financial Services during the first quarter valued at approximately $2,971,000. ING Groep NV increased its position in shares of Ameriprise Financial Services by 48.6% in the first quarter. ING Groep NV now owns 4,344 shares of the company’s stock valued at $409,000 after buying an additional 1,421 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Ameriprise Financial Services during the first quarter valued at approximately $3,249,000. Bessemer Group Inc. increased its position in shares of Ameriprise Financial Services by 142.4% in the first quarter. Bessemer Group Inc. now owns 1,115 shares of the company’s stock valued at $105,000 after buying an additional 655 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Ameriprise Financial Services during the first quarter valued at approximately $2,117,000. 80.01% of the stock is currently owned by institutional investors.
Ameriprise Financial Services Company Profile
Ameriprise Financial, Inc is a diversified financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors.
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