Analysts’ Recent Ratings Changes for Ameriprise Financial Services (AMP)
Ameriprise Financial Services (NYSE: AMP) has recently received a number of price target changes and ratings updates:
- 10/10/2016 – Ameriprise Financial Services was downgraded by analysts at Oppenheimer Holdings Inc. to an “underweight” rating.
- 10/7/2016 – Ameriprise Financial Services is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $116.00 price target on the stock.
- 9/27/2016 – Ameriprise Financial Services was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Ameriprise’s fixed interest costs and claims continue to remain at high levels and thus it needs to put in more efforts to offset the continued pressure on fee and asset growth. Also, continued equity market volatility and outflows in the Asset Management segment as well as elevated expenses will likely hurt the company’s financials in the near term. However, the company's modification of its product and service-offering capacity to keep pace with the dynamic market needs is expected to support the top line growth. Also, the company’s inorganic growth strategy will further aid its profitability in the near term.”
- 9/21/2016 – Ameriprise Financial Services was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Ameriprise’s modification of its product and service-offering capacity to keep pace with the dynamic market needs is expected to support the top line growth in the quarters ahead. Further, the company will continue to enhance shareholder value, given its strong balance sheet position and capital flexibility. Also, the company’s inorganic growth strategy will further aid its profitability in the near term. However, the company’s fixed interest costs and claims continue to remain at high levels and thus it needs to put in more efforts to offset the continued pressure on fee and asset growth. Also, continued equity market volatility and outflows in the Asset Management segment as well as elevated expenses will likely hurt the company’s financials in the near term.”
Ameriprise Financial Services Inc. (NYSE:AMP) traded up 0.75% during midday trading on Wednesday, hitting $100.44. The stock had a trading volume of 162,239 shares. The firm’s 50-day moving average price is $99.95 and its 200 day moving average price is $96.92. The company has a market cap of $16.21 billion, a P/E ratio of 12.19 and a beta of 1.64. Ameriprise Financial Services Inc. has a 12 month low of $76.00 and a 12 month high of $120.29.
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 analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 EPS. On average, analysts expect that Ameriprise Financial Services Inc. will post $9.27 earnings per share for the current fiscal year.
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In other Ameriprise Financial Services news, EVP Randy Kupper sold 5,686 shares of Ameriprise Financial Services stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $96.91, for a total transaction of $551,030.26. Following the completion of the transaction, the executive vice president now owns 26,964 shares in the company, valued at $2,613,081.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Carl Junek sold 4,683 shares of Ameriprise Financial Services stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $100.30, for a total value of $469,704.90. Following the transaction, the vice president now owns 37,766 shares of the company’s stock, valued at approximately $3,787,929.80. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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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