Several other equities research analysts have also recently commented on AMP. RBC Capital Markets cut Ameriprise Financial Services from an outperform rating to a sector perform rating and cut their price target for the stock from $121.00 to $98.00 in a research note on Monday, July 25th. Royal Bank Of Canada cut Ameriprise Financial Services from an outperform rating to a sector perform rating and cut their price target for the stock from $121.00 to $98.00 in a research note on Monday, July 25th. Credit Suisse Group AG initiated coverage on Ameriprise Financial Services in a research note on Friday. They set a neutral rating and a $116.00 price target for the company. Deutsche Bank AG upped their price target on Ameriprise Financial Services from $106.00 to $112.00 and gave the stock a buy rating in a research note on Thursday, July 28th. 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Ameriprise Financial Services presently has an average rating of Hold and a consensus price target of $112.00.
Shares of Ameriprise Financial Services (NYSE:AMP) traded down 0.36% during midday trading on Monday, reaching $101.25. 19,169 shares of the company’s stock traded hands. The stock’s 50 day moving average is $99.86 and its 200-day moving average is $96.90. The company has a market capitalization of $16.34 billion, a PE ratio of 12.29 and a beta of 1.64. Ameriprise Financial Services has a 52 week low of $76.00 and a 52 week high of $120.29.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $2.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.26 by $0.03. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. The firm earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. Ameriprise Financial Services’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, analysts forecast that Ameriprise Financial Services will post $9.27 earnings per share for the current fiscal year.
In related news, insider John Robert Woerner sold 4,513 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $100.71, for a total transaction of $454,504.23. Following the sale, the insider now owns 39,443 shares of the company’s stock, valued at $3,972,304.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Randy Kupper sold 4,129 shares of the 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 sale, 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. 1.40% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of AMP. UBS Group AG raised its stake in Ameriprise Financial Services by 7.6% in the first quarter. UBS Group AG now owns 2,018,696 shares of the company’s stock worth $189,778,000 after buying an additional 141,848 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Ameriprise Financial Services by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 23,939 shares of the company’s stock worth $2,251,000 after buying an additional 7,899 shares during the last quarter. BB&T Securities LLC raised its stake in Ameriprise Financial Services by 2,015.6% in the first quarter. BB&T Securities LLC now owns 70,853 shares of the company’s stock worth $6,660,000 after buying an additional 67,504 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Ameriprise Financial Services by 32.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,405 shares of the company’s stock worth $696,000 after buying an additional 1,820 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its stake in Ameriprise Financial Services by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 549,815 shares of the company’s stock worth $51,688,000 after buying an additional 35,948 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Ameriprise Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.