Ameriprise Financial Services Inc. (AMP) Shares Gap Up to $93.94
Ameriprise Financial Services Inc. (NYSE:AMP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $93.51, but opened at $93.94. Ameriprise Financial Services shares last traded at $96.31, with a volume of 743,076 shares traded.
AMP has been the topic of several recent research reports. Zacks Investment Research upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. Royal Bank Of Canada reduced their price target on Ameriprise Financial Services from $122.00 to $121.00 and set an “outperform” rating on the stock in a research report on Thursday, April 28th. UBS AG restated a “buy” rating and set a $120.00 price target (down from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. Evercore ISI began coverage on Ameriprise Financial Services in a research report on Wednesday, July 6th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Deutsche Bank AG cut their price objective on Ameriprise Financial Services from $122.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. Ameriprise Financial Services has an average rating of “Buy” and a consensus price target of $114.40.
The stock’s 50-day moving average price is $93.91 and its 200 day moving average price is $93.08. The company has a market capitalization of $15.58 billion and a price-to-earnings ratio of 11.71.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by $0.03. The business earned $2.87 billion during the quarter, compared to analyst estimates of $2.90 billion. Ameriprise Financial Services’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.33 EPS. On average, equities analysts forecast that Ameriprise Financial Services Inc. will post $9.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.11%.
In other Ameriprise Financial Services news, Director Lon R. Greenberg bought 3,900 shares of the business’s stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average price of $88.18 per share, with a total value of $343,902.00. Following the completion of the purchase, the director now owns 8,000 shares in the company, valued at approximately $705,440. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kelli A. Hunter sold 3,486 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $102.07, for a total value of $355,816.02. Following the transaction, the vice president now directly owns 29,258 shares in the company, valued at approximately $2,986,364.06. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Utah Retirement Systems boosted its position in Ameriprise Financial Services by 0.3% in the fourth quarter. Utah Retirement Systems now owns 32,534 shares of the company’s stock worth $3,462,000 after buying an additional 100 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Ameriprise Financial Services by 8.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 347,465 shares of the company’s stock worth $36,977,000 after buying an additional 26,890 shares in the last quarter. Foresters Investment Management Company Inc. boosted its position in Ameriprise Financial Services by 1.8% in the fourth quarter. Foresters Investment Management Company Inc. now owns 325,375 shares of the company’s stock worth $34,626,000 after buying an additional 5,900 shares in the last quarter. Buckingham Capital Management Inc. boosted its position in Ameriprise Financial Services by 52.8% in the third quarter. Buckingham Capital Management Inc. now owns 14,330 shares of the company’s stock worth $1,564,000 after buying an additional 4,952 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 worth $65,693,000 after buying an additional 38,859 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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