ValuEngine cut shares of Ameriprise Financial Services (NYSE:AMP) from a strong-buy rating to a buy rating in a research note released on Friday.
AMP has been the topic of several other reports. Barclays reiterated an equal weight rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. Zacks Investment Research upgraded Ameriprise Financial Services from a hold rating to a buy rating and set a $155.00 target price on the stock in a research note on Friday, September 1st. BidaskClub downgraded Ameriprise Financial Services from a strong-buy rating to a buy rating in a research note on Saturday, August 19th. Royal Bank Of Canada set a $149.00 target price on Ameriprise Financial Services and gave the company a hold rating in a research note on Wednesday, October 18th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial Services from $152.00 to $162.00 and gave the company an overweight rating in a research note on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $154.20.
Ameriprise Financial Services (AMP) opened at $162.47 on Friday. The stock has a market capitalization of $24,034.19, a P/E ratio of 13.81 and a beta of 1.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.67 and a current ratio of 0.67. Ameriprise Financial Services has a 12 month low of $109.19 and a 12 month high of $166.13.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.04%. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 30.97%.
In related news, Chairman James M. Cracchiolo sold 42,228 shares of Ameriprise Financial Services stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $159.33, for a total value of $6,728,187.24. Following the sale, the chairman now directly owns 242,013 shares in the company, valued at $38,559,931.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Robert Woerner sold 9,022 shares of Ameriprise Financial Services stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $160.91, for a total value of $1,451,730.02. Following the completion of the sale, the insider now owns 43,167 shares in the company, valued at $6,946,001.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,320 shares of company stock worth $9,640,592. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. AXA raised its holdings in Ameriprise Financial Services by 27.0% during the third quarter. AXA now owns 393,747 shares of the financial services provider’s stock worth $58,476,000 after purchasing an additional 83,673 shares during the last quarter. Shelton Capital Management acquired a new position in Ameriprise Financial Services during the third quarter worth $203,000. Steward Partners Investment Advisory LLC acquired a new position in Ameriprise Financial Services during the third quarter worth $2,484,000. Public Employees Retirement System of Ohio raised its holdings in Ameriprise Financial Services by 21.7% during the third quarter. Public Employees Retirement System of Ohio now owns 82,563 shares of the financial services provider’s stock worth $12,261,000 after purchasing an additional 14,710 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in Ameriprise Financial Services during the third quarter worth $373,000. Hedge funds and other institutional investors own 81.74% of the company’s stock.
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About Ameriprise Financial Services
Ameriprise Financial, Inc is a 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 Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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