The Ameriprise Financial Services Inc. (AMP) Lowered to Hold at Deutsche Bank AG

The Ameriprise Financial Services Inc. (AMP) Lowered to Hold at Deutsche Bank AG

Deutsche Bank AG lowered shares of Ameriprise Financial Services Inc. (NYSE:AMP) from a buy rating to a hold rating in a research report sent to investors on Friday morning. They currently have $112.00 price target on the stock.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Ameriprise Financial Services from a sell rating to a hold rating in a research report on Thursday. Oppenheimer Holdings Inc. lowered shares of Ameriprise Financial Services to an underweight rating in a research report on Monday, October 10th. Credit Suisse Group AG began coverage on shares of Ameriprise Financial Services in a research report on Friday, October 7th. They set a neutral rating and a $116.00 target price for the company. Morgan Stanley reiterated a buy rating and set a $120.00 target price on shares of Ameriprise Financial Services in a research report on Thursday, July 28th. Finally, RBC Capital Markets lowered shares of Ameriprise Financial Services from an outperform rating to a sector perform rating and cut their target price for the stock from $121.00 to $98.00 in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $111.33.

Shares of Ameriprise Financial Services (NYSE:AMP) traded up 0.16% during trading on Friday, hitting $97.24. 250,624 shares of the stock traded hands. The company has a market cap of $15.70 billion, a P/E ratio of 11.80 and a beta of 1.64. The stock has a 50-day moving average of $100.04 and a 200 day moving average of $96.98. Ameriprise Financial Services has a 1-year low of $76.00 and a 1-year high of $120.29.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.23 earnings per share 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. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. Ameriprise Financial Services’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 EPS. On average, equities research analysts predict that Ameriprise Financial Services will post $9.27 EPS for the current fiscal year.

In related news, EVP Randy Kupper sold 5,686 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $96.91, for a total value of $551,030.26. Following the sale, the executive vice president now directly owns 26,964 shares of the company’s stock, valued at $2,613,081.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Carl Junek sold 4,683 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 37,766 shares in the company, valued at $3,787,929.80. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Euclid Advisors LLC acquired a new position in Ameriprise Financial Services during the second quarter valued at approximately $103,000. Bessemer Group Inc. increased 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 valued at $105,000 after buying an additional 655 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Ameriprise Financial Services during the second quarter valued at approximately $108,000. Tower Research Capital LLC TRC acquired a new position in Ameriprise Financial Services during the second quarter valued at approximately $160,000. Finally, Bristlecone Advisors LLC acquired a new position in Ameriprise Financial Services during the third quarter valued at approximately $205,000. 79.97% of the stock is currently owned by institutional investors and hedge funds.

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