Oppenheimer Holdings Inc. lowered shares of Ameriprise Financial Services Inc. (NYSE:AMP) to an underweight rating in a research report sent to investors on Monday morning.

A number of other research analysts have also recently commented on the stock. UBS AG restated a buy rating and issued a $120.00 price target (down from $125.00) on shares of Ameriprise Financial Services in a report on Wednesday, June 29th. Zacks Investment Research cut shares of Ameriprise Financial Services from a hold rating to a sell rating in a report on Tuesday, September 27th. Credit Suisse Group AG initiated coverage on shares of Ameriprise Financial Services in a report on Friday. They issued a neutral rating and a $116.00 price target on the stock. Evercore ISI initiated coverage on shares of Ameriprise Financial Services in a report on Wednesday, July 6th. They issued a buy rating and a $110.00 price target on the stock. Finally, RBC Capital Markets cut shares of Ameriprise Financial Services from an outperform rating to a sector perform rating and cut their price target for the stock from $121.00 to $98.00 in a report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $112.00.

Analyst Recommendations for Ameriprise Financial Services (NYSE:AMP)

Shares of Ameriprise Financial Services (NYSE:AMP) traded down 0.36% on Monday, reaching $101.25. 19,169 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $99.86 and a 200-day moving average price of $96.90. Ameriprise Financial Services has a 12-month low of $76.00 and a 12-month high of $120.29. The company has a market cap of $16.34 billion, a PE ratio of 12.29 and a beta of 1.64.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.23 EPS for the quarter, missing the Zacks’ consensus estimate of $2.26 by $0.03. The company earned $2.87 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a return on equity of 20.72% and a net margin of 12.50%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.33 earnings per share. Equities research analysts anticipate 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 Ameriprise Financial Services stock in a transaction 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 owns 26,964 shares of the company’s stock, valued at approximately $2,613,081.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Carl Junek sold 4,683 shares of Ameriprise Financial Services stock in a transaction 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 approximately $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 added to or reduced their stakes in AMP. Bank of Montreal Can acquired a new stake in shares of Ameriprise Financial Services during the second quarter valued at about $236,917,000. Aristotle Capital Management LLC acquired a new stake in shares of Ameriprise Financial Services during the second quarter valued at about $203,871,000. Cohen & Steers Inc. boosted its stake in shares of Ameriprise Financial Services by 689.0% in the second quarter. Cohen & Steers Inc. now owns 1,034,376 shares of the company’s stock valued at $87,415,000 after buying an additional 903,276 shares during the period. Numeric Investors LLC boosted its stake in shares of Ameriprise Financial Services by 542.6% in the second quarter. Numeric Investors LLC now owns 1,021,100 shares of the company’s stock valued at $91,746,000 after buying an additional 862,200 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Ameriprise Financial Services by 6.4% in the second quarter. Vanguard Group Inc. now owns 12,256,414 shares of the company’s stock valued at $1,101,239,000 after buying an additional 731,863 shares during the period. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

About Ameriprise Financial Services

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.

5 Day Chart for NYSE:AMP

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