ValuEngine Lowers Ameriprise Financial Services (AMP) to Buy

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.

Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.33. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted $2.29 EPS. The company’s revenue was up 6.3% on a year-over-year basis. analysts expect that Ameriprise Financial Services will post 12.14 earnings per share for the current fiscal year.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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