Ameriprise Financial Services (AMP) Given a $168.00 Price Target at Royal Bank of Canada

Ameriprise Financial Services (NYSE:AMP) received a $168.00 price objective from investment analysts at Royal Bank of Canada in a report released on Saturday. The firm currently has a “hold” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 0.04% from the stock’s previous close.

Several other equities research analysts have also weighed in on AMP. Zacks Investment Research lowered Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub lowered Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Barclays reissued an “equal weight” rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. ValuEngine lowered Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, SunTrust Banks raised their price objective on Ameriprise Financial Services from $140.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ameriprise Financial Services presently has an average rating of “Buy” and an average target price of $155.64.

Ameriprise Financial Services (AMP) opened at $167.93 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $24,841.88, a price-to-earnings ratio of 14.28 and a beta of 1.93. Ameriprise Financial Services has a one year low of $109.19 and a one year high of $170.35.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.33. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.97 billion. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.29 EPS. equities research analysts predict that Ameriprise Financial Services will post 12.14 earnings per share for the current year.

In other news, insider John Robert Woerner sold 9,022 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $160.91, for a total value of $1,451,730.02. Following the completion of the sale, the insider now owns 43,167 shares of the company’s stock, valued at $6,946,001.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Colin Moore sold 4,285 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $161.09, for a total value of $690,270.65. Following the completion of the sale, the executive vice president now directly owns 73,690 shares of the company’s stock, valued at approximately $11,870,722.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,649 shares of company stock valued at $10,882,637. 1.50% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after buying an additional 116 shares during the period. IHT Wealth Management LLC boosted its position in shares of Ameriprise Financial Services by 284.0% in the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after buying an additional 230 shares during the period. Sun Life Financial INC boosted its position in shares of Ameriprise Financial Services by 10,100.0% in the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,111 shares during the period. Johnson Financial Group Inc. boosted its position in shares of Ameriprise Financial Services by 3.3% in the second quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock worth $150,000 after buying an additional 38 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of Ameriprise Financial Services by 60.3% in the second quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock worth $174,000 after buying an additional 517 shares during the period. 81.74% of the stock is owned by institutional investors and hedge funds.

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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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