Zacks Investment Research upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) from a hold rating to a buy rating in a research note published on Thursday morning. They currently have $167.00 target price on the financial services provider’s stock.

According to Zacks, “Shares of Ameriprise have outperformed the industry in the last three months. 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. Further, the company’s discipline in financial planning and strengths in product development will continue supporting 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.”

A number of other research analysts have also recently weighed in on AMP. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a sell rating to a hold rating in a report on Tuesday, June 20th. Royal Bank Of Canada started coverage on AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Thursday, June 29th. They issued a sector perform rating and a $135.00 price objective on the stock. Morgan Stanley raised their price objective on AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the company an overweight rating in a research report on Wednesday, July 26th. Citigroup Inc. set a $166.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a buy rating in a research report on Wednesday, August 2nd. Finally, Barclays PLC raised their price objective on AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an equal weight rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $149.31.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP) opened at 150.99 on Thursday. AMERIPRISE FINANCIAL SERVICES, INC. has a 12-month low of $86.25 and a 12-month high of $151.98. The company has a 50 day moving average price of $141.07 and a 200 day moving average price of $133.49. 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, INC. (NYSE:AMP) last issued its earnings results 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 return on equity of 26.54% and a net margin of 11.81%. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts anticipate that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.28 earnings per share for the current fiscal year.

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In other news, insider David Kent Stewart sold 4,945 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $144.21, for a total transaction of $713,118.45. Following the sale, the insider now directly owns 21,969 shares of the company’s stock, valued at $3,168,149.49. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kelli A. Hunter sold 1,500 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $144.59, for a total value of $216,885.00. Following the sale, the vice president now directly owns 27,356 shares in the company, valued at $3,955,404.04. The disclosure for this sale can be found here. Insiders sold 182,979 shares of company stock worth $26,479,126 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the last quarter. Parallel Advisors LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 17.5% during the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 116 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 284.0% during the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 230 shares during the last quarter. Sun Life Financial INC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 10,100.0% during the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,111 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth about $149,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

AMERIPRISE FINANCIAL SERVICES, INC. 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.

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

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