Ameriprise Financial Services, Inc. (AMP) Given a $149.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $149.00 target price on Ameriprise Financial Services, Inc. (NYSE:AMP) in a research note published on Wednesday. The brokerage currently has a hold rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Ameriprise Financial Services from a hold rating to a buy rating and set a $157.00 price objective for the company in a research report on Monday, September 18th. Citigroup Inc. set a $166.00 price objective on shares of Ameriprise Financial Services and gave the company a buy rating in a research report on Wednesday, August 2nd. BidaskClub raised shares of Ameriprise Financial Services from a hold rating to a buy rating in a research report on Wednesday, July 12th. Finally, Barclays PLC increased their price objective on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the company an equal weight rating in a research report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ameriprise Financial Services presently has an average rating of Buy and a consensus price target of $149.31.

Ameriprise Financial Services (AMP) opened at 154.12 on Wednesday. The stock has a market capitalization of $23.11 billion, a PE ratio of 17.65 and a beta of 1.88. Ameriprise Financial Services has a 12-month low of $86.25 and a 12-month high of $154.31. The stock’s 50 day moving average is $145.15 and its 200 day moving average is $135.29.

Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating 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%. Ameriprise Financial Services’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $2.23 EPS. Equities analysts anticipate that Ameriprise Financial Services will post $11.27 EPS for the current fiscal year.

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In other news, Chairman James M. Cracchiolo sold 39,450 shares of Ameriprise Financial Services stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total transaction of $5,700,525.00. Following the completion of the transaction, the chairman now directly owns 260,887 shares of the company’s stock, valued at approximately $37,698,171.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deirdre Davey Mcgraw sold 1,200 shares of Ameriprise Financial Services stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $145.06, for a total transaction of $174,072.00. Following the transaction, the executive vice president now directly owns 13,689 shares of the company’s stock, valued at $1,985,726.34. The disclosure for this sale can be found here. Insiders have sold a total of 182,979 shares of company stock valued at $26,479,126 over the last three months. 1.50% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its holdings in shares of Ameriprise Financial Services by 0.7% during the 2nd 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 purchasing an additional 6 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Ameriprise Financial Services by 17.5% during the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 116 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of Ameriprise Financial Services by 284.0% during the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 230 shares in the last quarter. Sun Life Financial INC increased its holdings in shares of Ameriprise Financial Services by 10,100.0% during the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Ameriprise Financial Services during the 1st quarter valued at approximately $149,000. 79.36% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Ameriprise Financial Services (NYSE:AMP)

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