Zacks Investment Research upgraded shares of Ameriprise Financial Services, Inc. (NYSE:AMP) from a hold rating to a buy rating in a report released on Monday. Zacks Investment Research currently has $157.00 price target on the financial services provider’s stock.

According to Zacks, “Shares of Ameriprise have outperformed the industry in the last year. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company remains well positioned to grow through strategic acquisitions, given its strong liquidity position. In sync with its plans of expanding products and services, the company acquired Investment Professionals, Inc. in July. Its efforts toward modifying product and service-offering capacity are expected to further support top-line growth. However, increasing expenses and elevated levels of outflows in the Asset Management segment are expected to hurt the company’s financials in the near term.”

Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Ameriprise Financial Services from a hold rating to a buy rating in a research report on Wednesday, July 12th. Citigroup Inc. set a $166.00 price target on shares of Ameriprise Financial Services and gave the stock a buy rating in a research report on Wednesday, August 2nd. Barclays PLC increased their price target on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an equal weight rating in a research report on Friday, August 11th. Morgan Stanley increased their price target on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an overweight rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada assumed coverage on shares of Ameriprise Financial Services in a research report on Thursday, June 29th. They set a sector perform rating and a $135.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $147.09.

Shares of Ameriprise Financial Services (NYSE AMP) opened at 140.86 on Monday. The company’s 50-day moving average is $140.63 and its 200-day moving average is $132.10. Ameriprise Financial Services has a one year low of $86.25 and a one year high of $149.99. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 16.13 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. Ameriprise Financial Services’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Ameriprise Financial Services will post $11.29 EPS for the current year.

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In related news, Chairman James M. Cracchiolo sold 97,545 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $144.67, for a total transaction of $14,111,835.15. Following the sale, the chairman now directly owns 474,139 shares in the company, valued at $68,593,689.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James M. Cracchiolo sold 39,450 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total transaction of $5,700,525.00. Following the sale, the chairman now owns 260,887 shares in the company, valued at $37,698,171.50. The disclosure for this sale can be found here. Insiders have sold 185,966 shares of company stock worth $26,868,153 over the last 90 days. Insiders own 1.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Ameriprise Financial Services by 2.7% in the second quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock valued at $1,622,270,000 after purchasing an additional 340,206 shares during the last quarter. BlackRock Inc. increased its stake in Ameriprise Financial Services by 1,709.0% in the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock valued at $1,379,836,000 after purchasing an additional 10,052,130 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Ameriprise Financial Services by 71.8% in the first quarter. JPMorgan Chase & Co. now owns 5,939,366 shares of the financial services provider’s stock valued at $770,216,000 after purchasing an additional 2,481,827 shares during the last quarter. LSV Asset Management increased its stake in Ameriprise Financial Services by 4.4% in the second quarter. LSV Asset Management now owns 2,739,924 shares of the financial services provider’s stock valued at $348,764,000 after purchasing an additional 116,706 shares during the last quarter. Finally, Aristotle Capital Management LLC increased its stake in Ameriprise Financial Services by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 2,360,259 shares of the financial services provider’s stock valued at $306,078,000 after purchasing an additional 6,399 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Ameriprise Financial Services Company Profile

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 (NYSE:AMP)

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