Ameriprise Financial Services, Inc. (AMP) Lifted to “Buy” at Zacks Investment Research

Ameriprise Financial Services, Inc. (NYSE:AMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $157.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.26% from the stock’s previous close.

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.”

A number of other research analysts have also recently issued reports on the company. Morgan Stanley lifted their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. BidaskClub upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Barclays PLC lifted their price objective on Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $147.09.

Shares of Ameriprise Financial Services (NYSE AMP) traded up 0.14% during trading on Monday, hitting $140.06. The stock had a trading volume of 194,312 shares. The firm has a 50 day moving average price of $140.74 and a 200-day moving average price of $132.04. Ameriprise Financial Services has a 52 week low of $86.25 and a 52 week high of $149.99. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 16.04 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.23 earnings per share. On average, equities research analysts forecast that Ameriprise Financial Services will post $11.29 EPS for the current fiscal year.

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In related news, Chairman James M. Cracchiolo sold 97,545 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total value of $14,111,835.15. Following the sale, the chairman now directly owns 474,139 shares in the company, valued at $68,593,689.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kelli A. Hunter sold 1,500 shares of the business’s 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 completion of the sale, the vice president now owns 27,356 shares in the company, valued at $3,955,404.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,966 shares of company stock valued at $26,868,153. Corporate insiders own 1.50% of the company’s stock.

Several large investors have recently bought and sold shares of AMP. BlackRock Inc. lifted its position in shares of Ameriprise Financial Services by 1,709.0% in the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock worth $1,379,836,000 after buying an additional 10,052,130 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ameriprise Financial Services by 71.8% in the first quarter. JPMorgan Chase & Co. now owns 5,939,366 shares of the financial services provider’s stock worth $770,216,000 after buying an additional 2,481,827 shares in the last quarter. FMR LLC lifted its position in shares of Ameriprise Financial Services by 115.7% in the first quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock worth $119,130,000 after buying an additional 492,785 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ameriprise Financial Services by 2.7% in 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 buying an additional 340,206 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Ameriprise Financial Services by 21.6% in the second quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock worth $242,543,000 after buying an additional 338,452 shares in the last quarter. Institutional investors own 79.39% of the company’s stock.

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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