Ameriprise Financial Services, Inc. (AMP) Receives $146.87 Average Price Target from Analysts

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) have been given an average rating of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $146.87.

AMP has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the stock a “sector perform” rating in a report on Wednesday, July 26th. BidaskClub lowered Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Morgan Stanley upped their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Zacks Investment Research lowered Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Finally, Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the stock a “buy” rating in a report on Wednesday, August 2nd.

In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 13,418 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $146.25, for a total transaction of $1,962,382.50. Following the sale, the chairman now directly owns 283,891 shares in the company, valued at $41,519,058.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman James M. Cracchiolo sold 39,450 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total value 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. Over the last quarter, insiders have sold 185,966 shares of company stock worth $26,868,153. 1.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AMP. BlackRock Inc. boosted its position in Ameriprise Financial Services by 1,709.0% during the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock worth $1,379,836,000 after purchasing an additional 10,052,130 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Ameriprise Financial Services by 71.8% during the first quarter. JPMorgan Chase & Co. now owns 5,939,366 shares of the financial services provider’s stock worth $770,216,000 after purchasing an additional 2,481,827 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Ameriprise Financial Services by 54.6% during the first quarter. Bank of New York Mellon Corp now owns 3,906,928 shares of the financial services provider’s stock worth $506,651,000 after purchasing an additional 1,380,098 shares in the last quarter. FMR LLC boosted its position in Ameriprise Financial Services by 115.7% during the first quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock worth $119,130,000 after purchasing an additional 492,785 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Ameriprise Financial Services by 2.7% during the second quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock worth $1,622,270,000 after purchasing an additional 340,206 shares in the last quarter. Institutional investors own 79.55% of the company’s stock.

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Shares of Ameriprise Financial Services (AMP) traded up 0.46% on Tuesday, hitting $132.77. The stock had a trading volume of 841,418 shares. The firm has a 50 day moving average of $141.00 and a 200 day moving average of $131.77. Ameriprise Financial Services has a 12 month low of $86.25 and a 12 month high of $149.99. The stock has a market cap of $19.91 billion, a P/E ratio of 15.16 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. Ameriprise Financial Services’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Ameriprise Financial Services will post $11.30 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 2.50%. Ameriprise Financial Services’s payout ratio is 37.81%.

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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