Ameriprise Financial (AMP) Downgraded by Zacks Investment Research to Sell
According to Zacks, “Shares of Ameriprise have underperformed the industry over the past six months. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Earnings estimates have been going down ahead of the company's first quarter 2019 results. While the company remains well positioned for growth through improving asset under management (AUM), acquisitions and restructuring initiatives as well as diversified investment portfolio, significant outflows in the Asset Management segment continues to be a major concern for the company. Also, elevated expenses are likely to hurt bottom-line growth to some extent.”
Other equities research analysts have also recently issued reports about the company. Sandler O’Neill raised Ameriprise Financial from a hold rating to a buy rating in a research note on Wednesday, January 2nd. UBS Group increased their price objective on Ameriprise Financial from $156.00 to $175.00 and gave the company a buy rating in a research report on Tuesday, April 9th. Royal Bank of Canada set a $134.00 price objective on Ameriprise Financial and gave the company a hold rating in a research report on Saturday, February 2nd. Morgan Stanley dropped their price objective on Ameriprise Financial from $170.00 to $150.00 and set an overweight rating on the stock in a research report on Friday, January 11th. Finally, Barclays raised Ameriprise Financial from an equal weight rating to an overweight rating and dropped their price objective for the company from $165.00 to $135.00 in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $152.38.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 30th. The financial services provider reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.12. Ameriprise Financial had a return on equity of 38.65% and a net margin of 16.35%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the firm posted $1.18 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that Ameriprise Financial will post 15.35 earnings per share for the current year.
In related news, EVP Colin Moore sold 24,032 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $133.64, for a total transaction of $3,211,636.48. Following the sale, the executive vice president now directly owns 56,447 shares of the company’s stock, valued at $7,543,577.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Ameriprise Financial in the fourth quarter valued at about $613,867,000. Oregon Public Employees Retirement Fund lifted its holdings in Ameriprise Financial by 9,885.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 3,379,445 shares during the period. Bank of New York Mellon Corp lifted its holdings in Ameriprise Financial by 11.1% in the third quarter. Bank of New York Mellon Corp now owns 3,437,464 shares of the financial services provider’s stock valued at $507,575,000 after acquiring an additional 342,277 shares during the period. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 2,577,013 shares of the financial services provider’s stock valued at $380,523,000 after acquiring an additional 263,728 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Ameriprise Financial by 12.4% in the fourth quarter. American Century Companies Inc. now owns 2,192,388 shares of the financial services provider’s stock valued at $228,820,000 after acquiring an additional 242,695 shares during the period. 84.98% of the stock is currently owned by institutional investors.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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