Ameriprise Financial Services Inc. (AMP) Shares Gap Up to $88.08
Shares of Ameriprise Financial Services Inc. (NYSE:AMP) gapped up before the market opened 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.
AMP has been the subject of a number of analyst reports. Zacks Investment Research cut Ameriprise Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Deutsche Bank AG decreased their price target on Ameriprise Financial Services from $122.00 to $106.00 and set a “buy” rating for the company in a report on Thursday. Citigroup Inc. upped their price target on 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 decreased their price target on Ameriprise Financial Services from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Thursday, April 28th. Finally, SunTrust Banks Inc. initiated coverage on Ameriprise Financial Services in a report on Tuesday, March 22nd. They issued a “buy” rating and a $115.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Ameriprise Financial Services has a consensus rating of “Buy” and an average target price of $119.82.
The firm has a 50 day moving average of $96.38 and a 200 day moving average of $93.79. The company has a market cap of $15.06 billion and a PE ratio of 10.70.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $2.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.18 by $0.01. During the same quarter last year, the firm earned $2.18 earnings per share. The company earned $2.79 billion during the quarter, compared to analyst estimates of $2.93 million. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial Services Inc. will post $9.51 EPS for the current fiscal year.
In related news, CEO William F. Truscott sold 10,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $95.98, for a total value of $988,594.00. Following the transaction, the chief executive officer now directly owns 12,653 shares of the company’s stock, valued at approximately $1,214,434.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lon R. Greenberg acquired 3,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was bought at an average cost of $88.18 per share, for a total transaction of $343,902.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $705,440. The disclosure for this purchase can be found here.
Other hedge funds have added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its stake in Ameriprise Financial Services by 62.8% in the fourth quarter. Neuberger Berman Group LLC now owns 10,671 shares of the company’s stock worth $1,136,000 after buying an additional 4,116 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Ameriprise Financial Services by 98.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,211 shares of the company’s stock worth $1,193,000 after buying an additional 5,563 shares during the period. Tredje AP fonden raised its stake in Ameriprise Financial Services by 1.2% in the fourth quarter. Tredje AP fonden now owns 11,545 shares of the company’s stock worth $1,229,000 after buying an additional 133 shares during the period. Midas Management Corp acquired a new stake in Ameriprise Financial Services during the fourth quarter worth about $1,310,000. Finally, Usca Ria LLC acquired a new stake in Ameriprise Financial Services during the fourth quarter worth about $1,330,000.
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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