AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) has earned an average rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $146.98.

A number of research firms recently commented on AMP. Deutsche Bank AG reaffirmed a “hold” rating and issued a $140.00 target price (up from $137.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Thursday, April 20th. Royal Bank Of Canada began coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 target price on the stock. BidaskClub raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 target price on the stock in a research report on Thursday, July 27th. Finally, Barclays PLC increased their target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) traded up 1.245% during trading on Friday, reaching $145.145. 293,234 shares of the company traded hands. The firm’s 50 day moving average price is $137.07 and its 200-day moving average price is $129.38. The company has a market capitalization of $21.76 billion, a price-to-earnings ratio of 16.624 and a beta of 1.86. AMERIPRISE FINANCIAL SERVICES, INC. has a 52 week low of $86.25 and a 52 week high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the business earned $2.23 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 EPS for the current fiscal year.

AMERIPRISE FINANCIAL SERVICES, INC. declared that its Board of Directors has initiated a stock buyback program on Monday, April 24th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.27%. The ex-dividend date is Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s payout ratio is currently 37.81%.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, CEO William F. Truscott sold 19,768 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the transaction, the chief executive officer now directly owns 70,693 shares of the company’s stock, valued at approximately $10,210,189.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Randy Kupper sold 2,987 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $130.24, for a total transaction of $389,026.88. Following the transaction, the executive vice president now directly owns 30,969 shares in the company, valued at $4,033,402.56. The disclosure for this sale can be found here. Insiders have sold a total of 144,891 shares of company stock worth $20,931,867 over the last three months. 1.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the last quarter. Parallel Advisors LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after buying an additional 116 shares during the last quarter. Dubuque Bank & Trust Co. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock valued at $124,000 after buying an additional 22 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $124,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $125,000. 82.01% of the stock is currently owned by institutional investors.

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About AMERIPRISE FINANCIAL SERVICES, INC.

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.

Analyst Recommendations for AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

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