Ameriprise Financial Services Inc. (AMP) Downgraded to “Underweight” at Oppenheimer Holdings Inc.
Ameriprise Financial Services Inc. (NYSE:AMP) was downgraded by investment analysts at Oppenheimer Holdings Inc. to an “underweight” rating in a report issued on Monday.
Several other research firms have also weighed in on AMP. Credit Suisse Group AG assumed coverage on Ameriprise Financial Services in a research report on Friday. They issued a “neutral” rating and a $116.00 price objective for the company. Zacks Investment Research raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. RBC Capital Markets lowered Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $121.00 to $98.00 in a research report on Monday, July 25th. Royal Bank Of Canada lowered Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $121.00 to $98.00 in a research report on Monday, July 25th. Finally, Deutsche Bank AG boosted their target price on Ameriprise Financial Services from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Ameriprise Financial Services currently has an average rating of “Hold” and a consensus target price of $112.00.
Ameriprise Financial Services (NYSE:AMP) traded up 0.96% during mid-day trading on Monday, reaching $102.13. The company’s stock had a trading volume of 20,702 shares. Ameriprise Financial Services has a 52-week low of $76.00 and a 52-week high of $120.29. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 12.39 and a beta of 1.64. The firm has a 50 day moving average price of $99.73 and a 200 day moving average price of $96.77.
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Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $2.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by $0.03. Ameriprise Financial Services had a return on equity of 20.72% and a net margin of 12.50%. The business earned $2.87 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business posted $2.33 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial Services will post $9.27 earnings per share for the current year.
In other Ameriprise Financial Services news, EVP Randy Kupper sold 5,686 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $96.91, for a total transaction of $551,030.26. Following the sale, the executive vice president now owns 26,964 shares of the company’s stock, valued at approximately $2,613,081.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Carl Junek sold 4,683 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $100.30, for a total transaction of $469,704.90. Following the sale, the vice president now directly owns 37,766 shares in the company, valued at approximately $3,787,929.80. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System purchased a new position in Ameriprise Financial Services during the first quarter valued at $265,000. Columbia Partners L L C Investment Management purchased a new position in Ameriprise Financial Services during the first quarter valued at $1,008,000. NN Investment Partners Holdings N.V. purchased a new position in Ameriprise Financial Services during the first quarter valued at $2,117,000. Bessemer Group Inc. boosted its position in 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 last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in Ameriprise Financial Services during the first quarter valued at $3,249,000. 80.01% of the stock is currently owned by hedge funds and other institutional investors.
About Ameriprise Financial Services
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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