Deutsche Bank AG Lowers Ameriprise Financial Services Inc. (AMP) to Hold
Deutsche Bank AG lowered shares of Ameriprise Financial Services Inc. (NYSE:AMP) from a buy rating to a hold rating in a research report released on Friday morning. The brokerage currently has $112.00 target price on the stock.
Several other brokerages also recently issued reports on AMP. Credit Suisse Group AG began coverage on Ameriprise Financial Services in a research report on Friday, October 7th. They issued a neutral rating and a $116.00 price objective for the company. Oppenheimer Holdings Inc. cut Ameriprise Financial Services to an underweight rating in a research note on Monday, October 10th. Zacks Investment Research raised Ameriprise Financial Services from a sell rating to a hold rating in a research note on Thursday, October 13th. RBC Capital Markets cut Ameriprise Financial Services from an outperform rating to a sector perform rating and lowered their target price for the company from $121.00 to $98.00 in a research note on Monday, July 25th. Finally, Royal Bank Of Canada cut Ameriprise Financial Services from an outperform rating to a sector perform rating and lowered their target price for the company from $121.00 to $98.00 in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $111.33.
Shares of Ameriprise Financial Services (NYSE:AMP) opened at 97.13 on Friday. Ameriprise Financial Services has a 52 week low of $76.00 and a 52 week high of $120.29. The stock has a market capitalization of $15.68 billion, a P/E ratio of 11.79 and a beta of 1.64. The company has a 50-day moving average price of $99.93 and a 200 day moving average price of $97.04.
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 the Thomson Reuters’ consensus estimate of $2.26 by $0.03. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. The business earned $2.87 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the firm posted $2.33 EPS. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts forecast that Ameriprise Financial Services will post $9.27 earnings per share for the current fiscal year.
In other news, VP John Carl Junek sold 4,683 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $100.30, for a total transaction of $469,704.90. Following the completion of the transaction, the vice president now directly owns 37,766 shares in the company, valued at approximately $3,787,929.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Robert Woerner sold 4,513 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $100.71, for a total transaction of $454,504.23. Following the transaction, the insider now owns 39,443 shares of the company’s stock, valued at $3,972,304.53. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Ameriprise Financial Services by 6.4% in the second quarter. Vanguard Group Inc. now owns 12,256,414 shares of the company’s stock worth $1,101,239,000 after buying an additional 731,863 shares during the period. LSV Asset Management raised its position in Ameriprise Financial Services by 2.0% in the second quarter. LSV Asset Management now owns 2,719,696 shares of the company’s stock worth $244,364,000 after buying an additional 54,426 shares during the period. BlackRock Fund Advisors raised its position in Ameriprise Financial Services by 0.3% in the second quarter. BlackRock Fund Advisors now owns 2,688,061 shares of the company’s stock worth $241,522,000 after buying an additional 7,051 shares during the period. Bank of Montreal Can purchased a new position in Ameriprise Financial Services during the second quarter worth approximately $236,917,000. Finally, Aristotle Capital Management LLC purchased a new position in Ameriprise Financial Services during the second quarter worth approximately $203,871,000. Hedge funds and other institutional investors own 79.97% of the company’s stock.
About Ameriprise Financial Services
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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