Ameriprise Financial Services Inc. (AMP) Sees Unusually-High Trading Volume
Ameriprise Financial Services Inc. (NYSE:AMP) shares saw unusually-strong trading volume on Wednesday . Approximately 1,556,398 shares changed hands during trading, an increase of 123% from the previous session’s volume of 698,876 shares.The stock last traded at $101.08 and had previously closed at $100.66.
A number of equities analysts recently issued reports on AMP shares. Morgan Stanley reiterated a “buy” rating and set a $120.00 price objective on shares of Ameriprise Financial Services in a research report on Thursday, July 28th. Deutsche Bank AG upped their price objective on shares of Ameriprise Financial Services from $106.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Evercore ISI started coverage on shares of Ameriprise Financial Services in a research report on Wednesday, July 6th. They set a “buy” rating and a $110.00 price objective for the company. UBS AG reiterated a “buy” rating and set a $120.00 price objective (down from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $113.08.
The company’s 50 day moving average price is $96.55 and its 200-day moving average price is $94.56. The stock has a market cap of $16.32 billion and a P/E ratio of 12.27.
Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data 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 in the prior year, the business earned $2.33 EPS. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial Services Inc. will post $9.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were given a $0.75 dividend. The ex-dividend date was Thursday, August 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.97%.
In related news, Director Lon R. Greenberg bought 3,900 shares of the company’s stock in a transaction on Wednesday, June 29th. The stock was acquired at an average cost of $88.18 per share, for a total transaction of $343,902.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $705,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Randy Kupper sold 5,686 shares of Ameriprise Financial Services stock in a transaction that occurred 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 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 increased its stake in shares of Ameriprise Financial Services Inc. (NYSE:AMP) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,944 shares of the company’s stock after buying an additional 23,170 shares during the period. US Bancorp DE owned about 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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