Ameriprise Financial Services Inc. (NYSE:AMP) was downgraded by Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts have also commented on the stock. UBS AG reiterated a “buy” rating and issued a $120.00 price target (down from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. Zacks Investment Research lowered shares of Ameriprise Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. lowered shares of Ameriprise Financial Services to an “underweight” rating in a research report on Monday. Credit Suisse Group AG started 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 on the stock. Finally, Evercore ISI started coverage on shares of Ameriprise Financial Services in a research report on Wednesday, July 6th. They set a “buy” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Ameriprise Financial Services currently has a consensus rating of “Hold” and an average target price of $111.33.

Analyst Recommendations for Ameriprise Financial Services (NYSE:AMP)

Ameriprise Financial Services (NYSE:AMP) opened at 98.70 on Friday. Ameriprise Financial Services has a 1-year low of $76.00 and a 1-year high of $120.29. The firm has a 50 day moving average of $100.05 and a 200 day moving average of $96.95. The firm has a market cap of $15.93 billion, a P/E ratio of 11.98 and a beta of 1.64.

Ameriprise Financial Services (NYSE:AMP) last released 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. The business earned $2.87 billion during the quarter, compared to analyst estimates of $2.90 billion. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. On average, equities research analysts expect that Ameriprise Financial Services will post $9.27 EPS for the current 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 transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Carl Junek sold 4,683 shares of Ameriprise Financial Services stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $100.30, for a total transaction of $469,704.90. Following 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 insiders.

A number of large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its stake in Ameriprise Financial Services by 43.8% in the first quarter. Nuveen Asset Management LLC now owns 378,898 shares of the company’s stock valued at $35,621,000 after buying an additional 115,468 shares during the period. Bank of Montreal Can purchased a new stake in Ameriprise Financial Services during the second quarter valued at about $236,917,000. Zurich Insurance Group Ltd FI increased its stake in Ameriprise Financial Services by 110.2% in the first quarter. Zurich Insurance Group Ltd FI now owns 45,398 shares of the company’s stock valued at $4,268,000 after buying an additional 23,800 shares during the period. Babson Capital Management LLC increased its stake in Ameriprise Financial Services by 187.9% in the first quarter. Babson Capital Management LLC now owns 11,031 shares of the company’s stock valued at $1,037,000 after buying an additional 7,200 shares during the period. Finally, Ferguson Wellman Capital Management Inc. increased its stake in Ameriprise Financial Services by 3.9% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 99,048 shares of the company’s stock valued at $8,899,000 after buying an additional 3,745 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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