Zacks Investment Research upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) from a hold rating to a buy rating in a research report report published on Thursday. The brokerage currently has $156.00 price target on the financial services provider’s stock.

According to Zacks, “Ameriprise’s shares outperformed the industry in the last one year. The company’s second-quarter 2017 earnings surpassed the Zacks Consensus Estimate. Results were aided by a rise in revenues and lower expenses. The company remains well positioned to grow through strategic acquisitions, given its strong liquidity position. Notably, in sync with its plans of expanding products and services, the company completed the acquisition of Investment Professionals, Inc. on July 1. Moreover, its efforts toward modifying product and service-offering capacity are expected to further support top-line growth. However, increasing expenses (mostly due to advertising campaign and technology upgrades) 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 analysts also recently issued reports on the company. Royal Bank Of Canada set a $149.00 price target on AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a sector perform rating in a report on Wednesday, July 26th. Morgan Stanley lifted their target price on AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the stock an overweight rating in a research report on Wednesday, July 26th. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a hold rating to a buy rating in a research report on Wednesday, July 12th. SunTrust Banks, Inc. reiterated a hold rating and set a $127.00 target price (up previously from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Wednesday, April 26th. Finally, Barclays PLC reiterated an equal weight rating and set a $130.00 target price (up previously from $127.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $142.64.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE AMP) opened at 144.45 on Thursday. AMERIPRISE FINANCIAL SERVICES, INC. has a 12 month low of $86.25 and a 12 month high of $145.88. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of 16.54 and a beta of 1.84. The company’s 50-day moving average price is $132.07 and its 200 day moving average price is $127.17.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a return on equity of 26.54% and a net margin of 11.81%. AMERIPRISE FINANCIAL SERVICES, INC.’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.23 EPS. Analysts predict that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is currently 37.81%.

AMERIPRISE FINANCIAL SERVICES, INC. declared that its Board of Directors has initiated a stock buyback plan on Monday, April 24th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, EVP Randy Kupper sold 2,987 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $130.24, for a total value of $389,026.88. Following the transaction, the executive vice president now owns 30,969 shares in the company, valued at approximately $4,033,402.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kelli A. Hunter sold 943 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $128.80, for a total value of $121,458.40. Following the completion of the transaction, the vice president now owns 39,919 shares in the company, valued at approximately $5,141,567.20. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of AMP. Contravisory Investment Management Inc. bought a new position in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $6,008,000. Fulton Bank N.A. boosted its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 41.0% in the first quarter. Fulton Bank N.A. now owns 3,134 shares of the financial services provider’s stock valued at $406,000 after buying an additional 912 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 134,167 shares of the financial services provider’s stock valued at $17,399,000 after buying an additional 611 shares during the period. Private Asset Management Inc. boosted its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 17.3% in the first quarter. Private Asset Management Inc. now owns 3,390 shares of the financial services provider’s stock valued at $440,000 after buying an additional 500 shares during the period. Finally, Park National Corp OH bought a new position in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $218,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.

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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