Zacks Investment Research Upgrades AMERIPRISE FINANCIAL SERVICES, INC. (AMP) to Buy

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. They currently have $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.”

AMP has been the topic of several other reports. Royal Bank Of Canada set a $149.00 target price on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a sector perform rating in a research report on Wednesday, July 26th. BidaskClub downgraded AMERIPRISE FINANCIAL SERVICES, INC. from a strong-buy rating to a buy rating in a research report on Saturday, August 19th. Morgan Stanley upped their target price 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 target price on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a buy rating in a research report on Wednesday, August 2nd. Finally, Barclays PLC upped their target price 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. AMERIPRISE FINANCIAL SERVICES, INC. has a consensus rating of Hold and a consensus price target of $147.09.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP) opened at 142.12 on Monday. AMERIPRISE FINANCIAL SERVICES, INC. has a one year low of $86.25 and a one year high of $149.99. The company has a 50 day moving average price of $140.53 and a 200 day moving average price of $132.16. The company has a market cap of $21.31 billion, a price-to-earnings ratio of 16.28 and a beta of 1.86.

AMERIPRISE FINANCIAL SERVICES, INC. (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, beating the 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 the consensus estimate of $2.90 billion. During the same period in the prior year, the firm earned $2.23 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. Equities analysts predict that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.28 EPS for the current year.

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In other AMERIPRISE FINANCIAL SERVICES, INC. news, CEO William F. Truscott sold 19,768 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the sale, the chief executive officer now directly owns 70,693 shares of the company’s stock, valued at approximately $10,210,189.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Neal Maglaque sold 4,728 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.57, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 185,966 shares of company stock worth $26,868,153 over the last ninety days. 1.50% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. IHT Wealth Management LLC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 284.0% during the 2nd 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 in the last quarter. Parallel Advisors LLC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 17.5% during the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 116 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. 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 worth $106,000 after acquiring an additional 6 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the 1st quarter worth about $124,000. Finally, Sun Life Financial INC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 10,100.0% during the 2nd 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 in the last quarter. 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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