Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) have received an average recommendation of “Buy” from the eleven research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $146.98.

AMP has been the subject of several recent research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $140.00 target price (up previously from $137.00) on shares of Ameriprise Financial Services in a research note on Thursday, April 20th. Barclays PLC reiterated an “equal weight” rating and issued a $130.00 target price (up previously from $127.00) on shares of Ameriprise Financial Services in a research note on Tuesday, April 25th. Zacks Investment Research downgraded shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $127.00 target price (up previously from $124.00) on shares of Ameriprise Financial Services in a research note on Wednesday, April 26th. Finally, BidaskClub upgraded shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th.

In related news, CEO William F. Truscott sold 19,768 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the completion of the transaction, the chief executive officer now owns 70,693 shares of the company’s stock, valued at $10,210,189.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Randy Kupper sold 2,987 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $130.24, for a total transaction of $389,026.88. Following the transaction, the executive vice president now directly owns 30,969 shares of the company’s stock, valued at approximately $4,033,402.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,891 shares of company stock valued at $20,931,867. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of AMP. Vanguard Group Inc. boosted its position in 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. BlackRock Inc. boosted its position in 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. boosted its position in 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. Bank of New York Mellon Corp boosted its position in Ameriprise Financial Services by 54.6% in 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 buying an additional 1,380,098 shares in the last quarter. Finally, LSV Asset Management boosted its position in Ameriprise Financial Services by 4.4% in the second quarter. LSV Asset Management now owns 2,739,924 shares of the financial services provider’s stock worth $348,764,000 after buying an additional 116,706 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

Shares of Ameriprise Financial Services (NYSE AMP) traded down 0.30% on Friday, hitting $143.36. 1,009,673 shares of the company’s stock were exchanged. The firm has a market cap of $21.50 billion, a P/E ratio of 16.42 and a beta of 1.86. Ameriprise Financial Services has a 12 month low of $86.25 and a 12 month high of $149.99. The stock’s 50 day moving average is $137.07 and its 200 day moving average is $129.38.

Ameriprise Financial Services (NYSE:AMP) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $2.23 earnings per share. On average, equities analysts predict that Ameriprise Financial Services will post $11.30 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.32%. Ameriprise Financial Services’s dividend payout ratio is currently 37.81%.

Ameriprise Financial Services declared that its Board of Directors has approved a stock repurchase plan on Monday, April 24th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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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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