Ameriprise Financial Services Inc. (AMP) Shares Gap Down to $97.42
Ameriprise Financial Services Inc. (NYSE:AMP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $97.13, but opened at $97.42. Ameriprise Financial Services shares last traded at $98.27, with a volume of 354,886 shares traded.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. RBC Capital Markets lowered Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $121.00 to $98.00 in a research note on Monday, July 25th. Royal Bank Of Canada lowered Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $121.00 to $98.00 in a research note on Monday, July 25th. Deutsche Bank AG lifted their price objective on Ameriprise Financial Services from $106.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Morgan Stanley reiterated a “buy” rating and set a $120.00 price objective on shares of Ameriprise Financial Services in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $113.08.
The stock has a market cap of $15.87 billion and a P/E ratio of 11.93. The stock has a 50 day moving average of $95.89 and a 200-day moving average of $93.99.
Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Tuesday, July 26th. The company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by $0.03. During the same period last year, the firm earned $2.33 earnings per share. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.90 billion. The business’s revenue was down 8.2% on a year-over-year basis. On average, equities analysts anticipate that Ameriprise Financial Services Inc. will post $9.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $3.00 annualized dividend and a yield of 3.05%.
In related news, VP Kelli A. Hunter sold 3,486 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $102.07, for a total transaction of $355,816.02. Following the completion of the transaction, the vice president now directly owns 29,258 shares of the company’s stock, valued at $2,986,364.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randy Kupper sold 5,686 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $96.91, for a total transaction of $551,030.26. Following the transaction, the executive vice president now directly owns 26,964 shares of the company’s stock, valued at $2,613,081.24. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Ameriprise Financial Services stock. US Bancorp DE boosted its stake in Ameriprise Financial Services Inc. (NYSE:AMP) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,944 shares of the company’s stock after buying an additional 23,170 shares during the period. US Bancorp DE owned approximately 0.09% of Ameriprise Financial Services worth $16,063,000 as of its most recent SEC filing.
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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