Ameriprise Financial Services Inc. (NYSE:AMP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Estimates have been stable ahead of Ameriprise’s third-quarter 2016 earnings release. Notably, the company has a positive record of earnings surprises in recent quarters. Further, the company's modification of its product and service-offering capacity to keep pace with the dynamic market needs is expected to support the top line growth. Also, the company’s inorganic growth strategy will further aid its profitability in the near term. However, the company’s fixed interest costs and claims continue to remain at high levels and thus it needs to put in more efforts to offset the continued pressure on fee and asset growth. In addition, continued equity market volatility and outflows in the Asset Management segment as well as elevated expenses will likely hurt the company’s financials in the near term.”
AMP has been the subject of several other reports. Evercore ISI assumed coverage on Ameriprise Financial Services in a research report on Wednesday, July 6th. They set a “buy” rating and a $110.00 price target for the company. Royal Bank Of Canada cut Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $121.00 to $98.00 in a research report on Monday, July 25th. Deutsche Bank AG increased their price target on Ameriprise Financial Services from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. 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. Finally, UBS AG reaffirmed a “buy” rating and issued a $120.00 price objective (down from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $112.00.
Ameriprise Financial Services (NYSE:AMP) traded down 1.90% during mid-day trading on Thursday, hitting $98.19. The stock had a trading volume of 351,550 shares. Ameriprise Financial Services has a one year low of $76.00 and a one year high of $120.29. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 11.91 and a beta of 1.64. The stock’s 50 day moving average price is $100.02 and its 200 day moving average price is $96.94.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.23 EPS for the quarter, missing the 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 company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the company posted $2.33 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts forecast that Ameriprise Financial Services will post $9.27 EPS for the current year.
In other Ameriprise Financial Services news, EVP Randy Kupper sold 4,129 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $100.81, for a total transaction of $416,244.49. Following the transaction, the executive vice president now owns 22,835 shares in the company, valued at approximately $2,301,996.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John Carl Junek sold 4,683 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $100.30, for a total value of $469,704.90. Following the transaction, the vice president now owns 37,766 shares in the company, valued at approximately $3,787,929.80. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Euclid Advisors LLC bought a new position in Ameriprise Financial Services during the second quarter worth approximately $103,000. Bessemer Group Inc. raised its position in Ameriprise Financial Services by 142.4% in the first quarter. Bessemer Group Inc. now owns 1,115 shares of the company’s stock worth $105,000 after buying an additional 655 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Ameriprise Financial Services during the second quarter worth approximately $108,000. Tower Research Capital LLC TRC bought a new position in Ameriprise Financial Services during the second quarter worth approximately $160,000. Finally, Bristlecone Advisors LLC bought a new position in Ameriprise Financial Services during the third quarter worth approximately $205,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.
Ameriprise Financial Services Company Profile
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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