Oppenheimer Holdings Inc. Downgrades Ameriprise Financial Services Inc. (AMP) to Underweight
Ameriprise Financial Services Inc. (NYSE:AMP) was downgraded by equities researchers at Oppenheimer Holdings Inc. to an “underweight” rating in a note issued to investors on Monday.
Several other research analysts have also issued reports on the company. UBS AG restated a “buy” rating and set a $120.00 target price (down previously from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. Zacks Investment Research lowered Ameriprise Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Credit Suisse Group AG started coverage on Ameriprise Financial Services in a research report on Friday. They set a “neutral” rating and a $116.00 target price for the company. Evercore ISI started coverage on Ameriprise Financial Services in a research report on Wednesday, July 6th. They set a “buy” rating and a $110.00 target price for the company. Finally, RBC Capital Markets downgraded shares of Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $121.00 to $98.00 in a research note on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $112.00.
Ameriprise Financial Services (NYSE:AMP) opened at 101.16 on Monday. Ameriprise Financial Services has a 12 month low of $76.00 and a 12 month high of $120.29. The stock has a 50 day moving average price of $99.73 and a 200 day moving average price of $96.77. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 12.28 and a beta of 1.64.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/oppenheimer-holdings-inc-downgrades-ameriprise-financial-services-inc-amp-to-underweight.html
Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings results on Tuesday, July 26th. The company reported $2.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by $0.03. The company earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a return on equity of 20.72% and a net margin of 12.50%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.33 EPS. Analysts anticipate that Ameriprise Financial Services will post $9.27 earnings per share for the current fiscal year.
In other 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 transaction of $454,504.23. Following the transaction, the insider now directly owns 39,443 shares of the company’s stock, valued at $3,972,304.53. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 directly owns 26,964 shares in the company, valued at $2,613,081.24. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake 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 worth $105,000 after buying an additional 655 shares during the period. Euclid Advisors LLC bought a new stake in shares of Ameriprise Financial Services during the second quarter worth $103,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Ameriprise Financial Services during the second quarter worth $108,000. Tower Research Capital LLC TRC bought a new stake in shares of Ameriprise Financial Services during the second quarter worth $160,000. Finally, Aspiriant LLC bought a new stake in shares of Ameriprise Financial Services during the second quarter worth $249,000. 80.01% of the stock is currently owned by hedge funds and other 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.
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.