Ameriprise Financial Services, Inc. (NYSE:AMP) had its price objective lifted by equities researchers at Morgan Stanley from $148.00 to $152.00 in a report released on Wednesday. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 5.08% from the company’s previous close.

AMP has been the subject of a number of other research reports. Deutsche Bank AG reaffirmed a “hold” rating and issued a $140.00 target price (up previously from $137.00) on shares of Ameriprise Financial Services in a report on Thursday, April 20th. BidaskClub raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Monday, April 10th. Barclays PLC reaffirmed an “equal weight” rating and issued a $130.00 target price (up previously from $127.00) on shares of Ameriprise Financial Services in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada began coverage on Ameriprise Financial Services in a report on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $137.68.

Shares of Ameriprise Financial Services (NYSE AMP) traded up 4.18% during mid-day trading on Wednesday, reaching $144.65. The company had a trading volume of 2,653,441 shares. Ameriprise Financial Services has a 52-week low of $86.25 and a 52-week high of $145.88. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 17.55 and a beta of 1.84. The firm’s 50-day moving average price is $129.72 and its 200 day moving average price is $126.54.

Ameriprise Financial Services (NYSE:AMP) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Ameriprise Financial Services had a return on equity of 24.75% and a net margin of 11.44%. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Ameriprise Financial Services will post $10.88 EPS for the current year.

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

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In other news, VP Kelli A. Hunter sold 943 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $128.80, for a total value of $121,458.40. Following the completion of the sale, the vice president now owns 39,919 shares of the company’s stock, valued at $5,141,567.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Randy Kupper sold 2,987 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $130.24, for a total value of $389,026.88. Following the completion of the sale, 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. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Ameriprise Financial Services by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock valued at $108,000 after buying an additional 4 shares in the last quarter. Dubuque Bank & Trust Co. boosted its stake in Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock valued at $124,000 after buying an additional 22 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Ameriprise Financial Services during the first quarter valued at approximately $124,000. State of Alaska Department of Revenue acquired a new stake in Ameriprise Financial Services during the first quarter valued at approximately $125,000. Finally, Meeder Asset Management Inc. acquired a new stake in Ameriprise Financial Services during the first quarter valued at approximately $149,000. 80.72% of the stock is owned by institutional investors and hedge funds.

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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