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.
AMP has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed a “buy” rating and issued a $120.00 target price on shares of Ameriprise Financial Services in a research note on Thursday, July 28th. Deutsche Bank AG upped their target price on shares of Ameriprise Financial Services from $106.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Evercore ISI initiated coverage on shares of Ameriprise Financial Services in a research note on Wednesday, July 6th. They issued a “buy” rating and a $110.00 target price for the company. UBS AG reaffirmed a “buy” rating and issued a $120.00 target price (down from $125.00) on shares of Ameriprise Financial Services in a research note on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. One investment 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. The stock currently has an average rating of “Hold” and a consensus price target of $113.08.
The company has a market cap of $15.87 billion and a price-to-earnings ratio of 11.93. The company’s 50-day moving average price is $95.89 and its 200 day moving average price is $93.99.
Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by $0.03. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast 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. Investors of record on Monday, August 8th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.05%. The ex-dividend date was Thursday, August 4th.
In other news, VP Kelli A. Hunter sold 3,486 shares of the firm’s 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 sale, the vice president now owns 29,258 shares of the company’s stock, valued at approximately $2,986,364.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lon R. Greenberg purchased 3,900 shares of the company’s stock in a transaction dated Wednesday, June 29th. The shares were bought at an average cost of $88.18 per share, for a total transaction of $343,902.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at $705,440. The disclosure for this purchase can be found here.
Several hedge funds recently made changes to their positions in AMP. Calvert Investment Management Inc. increased its stake 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 worth $1,239,000 after buying an additional 3,137 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Ameriprise Financial Services during the fourth quarter worth about $3,056,000. US Bancorp DE increased its stake in shares of Ameriprise Financial Services by 18.1% in the fourth quarter. US Bancorp DE now owns 150,944 shares of the company’s stock worth $16,063,000 after buying an additional 23,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ameriprise Financial Services by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,263 shares of the company’s stock worth $65,693,000 after buying an additional 38,859 shares during 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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