Equities research analysts expect that Ameriprise Financial Services, Inc. (NYSE:AMP) will report earnings per share of $2.86 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ameriprise Financial Services’ earnings. The highest EPS estimate is $2.89 and the lowest is $2.80. Ameriprise Financial Services reported earnings of $2.29 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 24.9%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, October 24th.

According to Zacks, analysts expect that Ameriprise Financial Services will report full year earnings of $11.33 per share for the current year, with EPS estimates ranging from $11.25 to $11.38. For the next financial year, analysts forecast that the company will report earnings of $12.74 per share, with EPS estimates ranging from $12.20 to $13.25. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ameriprise Financial Services.

Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $2.23 EPS.

AMP has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Friday, September 1st. Morgan Stanley boosted 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 note on Wednesday, July 26th. Royal Bank Of Canada set a $149.00 price target on shares of Ameriprise Financial Services and gave the stock a “sector perform” rating in a research note on Wednesday, July 26th. Finally, BidaskClub upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ameriprise Financial Services has an average rating of “Buy” and an average price target of $149.31.

In related news, insider Charles Neal Maglaque sold 4,728 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $144.57, for a total transaction of $683,526.96. Following the sale, the insider now directly owns 24,901 shares in the company, valued at $3,599,937.57. 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 182,979 shares of company stock worth $26,479,126 over the last quarter. Insiders own 1.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Ameriprise Financial Services by 109.3% during the second quarter. Principal Financial Group Inc. now owns 508,733 shares of the financial services provider’s stock worth $64,757,000 after buying an additional 265,632 shares during the period. Intrust Bank NA increased its stake in shares of Ameriprise Financial Services by 0.7% during the second quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock worth $228,000 after buying an additional 12 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Ameriprise Financial Services by 100.0% during the second quarter. First Eagle Investment Management LLC now owns 21,324 shares of the financial services provider’s stock worth $2,714,000 after buying an additional 10,662 shares during the period. Airain ltd purchased a new stake in shares of Ameriprise Financial Services during the second quarter worth approximately $1,184,000. Finally, Commonwealth Bank of Australia increased its stake in shares of Ameriprise Financial Services by 13.2% during the second quarter. Commonwealth Bank of Australia now owns 30,633 shares of the financial services provider’s stock worth $3,897,000 after buying an additional 3,570 shares during the period. Hedge funds and other institutional investors own 79.36% of the company’s stock.

Ameriprise Financial Services (NYSE:AMP) traded up 1.10% during midday trading on Wednesday, hitting $154.12. 794,206 shares of the stock traded hands. The firm has a market cap of $23.11 billion, a PE ratio of 17.65 and a beta of 1.88. Ameriprise Financial Services has a 52-week low of $86.25 and a 52-week high of $154.31. The stock has a 50-day moving average of $145.15 and a 200 day moving average of $135.29.

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About Ameriprise Financial Services

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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Earnings History and Estimates for Ameriprise Financial Services (NYSE:AMP)

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