Ameriprise Financial Services, Inc. (NYSE:AMP) had its price objective hoisted by Morgan Stanley from $152.00 to $162.00 in a research report sent to investors on Thursday morning. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on AMP. Barclays PLC restated an equal weight rating on shares of Ameriprise Financial Services in a research report on Monday. BidaskClub upgraded Ameriprise Financial Services from a buy rating to a strong-buy rating in a research report on Friday, August 4th. Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the stock a buy rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Ameriprise Financial Services from a hold rating to a buy rating and set a $156.00 price objective for the company in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the stock a sector perform rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $149.31.

Ameriprise Financial Services (AMP) traded up 0.29% during midday trading on Thursday, hitting $150.99. 580,758 shares of the stock were exchanged. The firm has a 50-day moving average price of $140.72 and a 200-day moving average price of $133.34. The stock has a market cap of $22.64 billion, a P/E ratio of 17.29 and a beta of 1.88. Ameriprise Financial Services has a one year low of $86.25 and a one year high of $151.98.

Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $2.23 earnings per share. Ameriprise Financial Services’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Ameriprise Financial Services will post $11.28 EPS for the current fiscal year.

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In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 13,418 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $146.25, for a total value of $1,962,382.50. Following the sale, the chairman now directly owns 283,891 shares of the company’s stock, valued at approximately $41,519,058.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman James M. Cracchiolo sold 97,545 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total value of $14,111,835.15. Following the completion of the sale, the chairman now directly owns 474,139 shares in the company, valued at $68,593,689.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,979 shares of company stock valued at $26,479,126. 1.50% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of AMP. BlackRock Inc. boosted its stake in Ameriprise Financial Services by 1,709.0% in the 1st quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock worth $1,379,836,000 after buying an additional 10,052,130 shares during the last quarter. FMR LLC boosted its stake in Ameriprise Financial Services by 115.7% in the 1st quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock worth $119,130,000 after buying an additional 492,785 shares during the last quarter. Vanguard Group Inc. boosted its stake in Ameriprise Financial Services by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock worth $1,622,270,000 after buying an additional 340,206 shares during the last quarter. American Century Companies Inc. boosted its stake in Ameriprise Financial Services by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock worth $242,543,000 after buying an additional 338,452 shares during the last quarter. Finally, Samlyn Capital LLC boosted its stake in Ameriprise Financial Services by 238.1% in the 2nd quarter. Samlyn Capital LLC now owns 413,106 shares of the financial services provider’s stock worth $52,584,000 after buying an additional 290,921 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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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