Ameriprise Financial Services Inc. (AMP) Shares Gap Up to $96.81
Shares of Ameriprise Financial Services Inc. (NYSE:AMP) gapped up prior to trading on Tuesday . The stock had previously closed at $96.58, but opened at $96.81. Ameriprise Financial Services shares last traded at $97.79, with a volume of 310,278 shares trading hands.
A number of research firms recently issued reports on AMP. Morgan Stanley reissued a “buy” rating and set a $120.00 target price on shares of Ameriprise Financial Services in a research note on Thursday, July 28th. Deutsche Bank AG increased their target price on Ameriprise Financial Services from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. RBC Capital Markets cut Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $121.00 to $98.00 in a research note on Monday, July 25th. Royal Bank Of Canada cut Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $121.00 to $98.00 in a research note on Monday, July 25th. Finally, Evercore ISI began coverage on Ameriprise Financial Services in a research note on Wednesday, July 6th. They set a “buy” rating and a $110.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Ameriprise Financial Services presently has a consensus rating of “Hold” and an average price target of $113.08.
The stock’s 50 day moving average is $95.03 and its 200 day moving average is $93.81. The firm has a market capitalization of $15.76 billion and a price-to-earnings ratio of 11.85.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results 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. During the same quarter in the previous year, the business posted $2.33 earnings per share. The business earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.90 billion. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts expect that Ameriprise Financial Services Inc. will post $9.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.07%. The ex-dividend date was Thursday, August 4th.
In other Ameriprise Financial Services news, VP Kelli A. Hunter sold 3,486 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was 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 of the company’s stock, valued at $2,986,364.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lon R. Greenberg purchased 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 purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $705,440. The disclosure for this purchase can be found here.
A number of institutional investors have modified their holdings of the stock. Calvert Investment Management Inc. raised its position in shares of Ameriprise Financial Services by 36.9% in the fourth quarter. Calvert Investment Management Inc. now owns 11,644 shares of the company’s stock valued at $1,239,000 after buying an additional 3,137 shares during the period. Trexquant Investment LP purchased a new stake in Ameriprise Financial Services during the fourth quarter valued at approximately $1,665,000. Jennison Associates LLC purchased a new stake in Ameriprise Financial Services during the fourth quarter valued at approximately $3,056,000. US Bancorp DE increased its stake in Ameriprise Financial Services by 18.1% in the fourth quarter. US Bancorp DE now owns 150,944 shares of the company’s stock valued at $16,063,000 after buying an additional 23,170 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake 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 valued at $36,977,000 after buying an additional 26,890 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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