Zacks Investment Research lowered shares of Ameriprise Financial (NYSE:AMP) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Shares of Ameriprise have outperformed the industry in the last six months. Moreover, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The company remains well positioned to grow through strategic acquisitions, given its strong liquidity position. Further, its efforts to modify product and service-offering capacity to keep pace with dynamic market needs will continue supporting top-line growth. Also, lower tax rates will lead to further improvement in profitability. However, elevated expenses are likely to hurt bottom-line growth in the near term. Also, outflows in the Asset Management segment continues to be a major concern for the company, which might hamper its financials.”
Several other equities analysts have also weighed in on AMP. ValuEngine lowered shares of Ameriprise Financial from a strong-buy rating to a buy rating in a report on Friday, December 1st. Deutsche Bank began coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They set a buy rating on the stock. Sandler O’Neill set a $165.00 price objective on shares of Ameriprise Financial and gave the company a hold rating in a report on Monday, February 12th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $187.00 to $190.00 and gave the company an overweight rating in a report on Thursday, January 25th. Finally, UBS began coverage on shares of Ameriprise Financial in a report on Friday, March 2nd. They set a buy rating and a $217.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $171.56.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the company posted $2.46 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. equities analysts expect that Ameriprise Financial will post 14.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, February 15th. Ameriprise Financial’s payout ratio is presently 35.17%.
In other news, CEO William F. Truscott sold 31,379 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the completion of the sale, the chief executive officer now directly owns 67,058 shares of the company’s stock, valued at $11,643,951.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Randy Kupper sold 4,381 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $159.61, for a total transaction of $699,251.41. Following the sale, the executive vice president now directly owns 21,607 shares of the company’s stock, valued at $3,448,693.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,260 shares of company stock valued at $7,105,121. 1.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Icon Wealth Partners LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth about $101,000. Capital Analysts LLC increased its position in shares of Ameriprise Financial by 953.0% during the fourth quarter. Capital Analysts LLC now owns 5,981 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 5,413 shares in the last quarter. Lee Financial Co increased its position in shares of Ameriprise Financial by 99.4% during the fourth quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 340 shares in the last quarter. Virtue Capital Management LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter worth about $128,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Ameriprise Financial by 150.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 468 shares in the last quarter. 86.72% of the stock is owned by institutional investors.
About Ameriprise Financial
Ameriprise Financial, Inc is a 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 Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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