Ameriprise Financial Services Inc. (AMP) Shares Gap Up to $88.08
Ameriprise Financial Services Inc. (NYSE:AMP)’s share price gapped up prior to trading on Friday . The stock had previously closed at $87.15, but opened at $88.08. Ameriprise Financial Services shares last traded at $90.87, with a volume of 383,204 shares.
A number of equities analysts recently issued reports on AMP shares. Zacks Investment Research downgraded shares of Ameriprise Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Deutsche Bank AG dropped their price objective on shares of Ameriprise Financial Services from $122.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup Inc. raised their price objective on shares of Ameriprise Financial Services from $94.00 to $99.00 and gave the stock a “neutral” rating in a report on Wednesday, April 6th. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial Services from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Thursday, April 28th. Finally, SunTrust Banks Inc. initiated coverage on shares of Ameriprise Financial Services in a report on Tuesday, March 22nd. They issued a “buy” rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $119.82.
The firm has a market cap of $15.06 billion and a P/E ratio of 10.70. The firm has a 50 day moving average of $96.38 and a 200 day moving average of $93.79.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $2.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.18 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.93 million. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. On average, equities analysts forecast that Ameriprise Financial Services Inc. will post $9.51 EPS for the current fiscal year.
In other Ameriprise Financial Services news, Director Lon R. Greenberg purchased 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were bought at an average price of $88.18 per share, for a total transaction of $343,902.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at $705,440. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William F. Truscott sold 10,300 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $95.98, for a total transaction of $988,594.00. Following the completion of the transaction, the chief executive officer now owns 12,653 shares in the company, valued at approximately $1,214,434.94. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of AMP. Buckingham Capital Management Inc. increased its position in shares of Ameriprise Financial Services by 52.8% in the third quarter. Buckingham Capital Management Inc. now owns 14,330 shares of the company’s stock valued at $1,564,000 after buying an additional 4,952 shares during the period. Dimensional Fund Advisors LP raised its stake in Ameriprise Financial Services by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,263 shares of the company’s stock valued at $65,693,000 after buying an additional 38,859 shares in the last quarter. Jennison Associates LLC bought a new stake in Ameriprise Financial Services during the fourth quarter valued at approximately $3,056,000. Trexquant Investment LP bought a new stake in Ameriprise Financial Services during the fourth quarter valued at approximately $1,665,000. Finally, US Bancorp DE raised its stake in Ameriprise Financial Services by 18.1% in the fourth quarter. US Bancorp DE now owns 150,944 shares of the company’s stock valued at $16,063,000 after buying an additional 23,170 shares in the last quarter.
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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