AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

A number of other research firms have also recently weighed in on AMP. Citigroup Inc. set a $166.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research cut AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $127.00 price objective (up from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Wednesday, April 26th. Royal Bank Of Canada set a $149.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. Finally, Morgan Stanley increased their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $145.64.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP) traded up 1.09% on Friday, reaching $147.84. The company had a trading volume of 923,142 shares. The company’s 50-day moving average price is $133.12 and its 200 day moving average price is $127.79. AMERIPRISE FINANCIAL SERVICES, INC. has a 52 week low of $86.25 and a 52 week high of $148.75. The firm has a market capitalization of $22.17 billion, a P/E ratio of 16.88 and a beta of 1.86.

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

AMERIPRISE FINANCIAL SERVICES, INC. announced that its board has approved a stock repurchase plan on Monday, April 24th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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In other news, CEO William F. Truscott sold 19,768 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $144.43, for a total value of $2,855,092.24. Following the completion of the sale, the chief executive officer now directly owns 70,693 shares of the company’s stock, valued at approximately $10,210,189.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kelli A. Hunter sold 943 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 39,919 shares of the company’s stock, valued at $5,141,567.20. The disclosure for this sale can be found here. Insiders sold a total of 132,416 shares of company stock valued at $19,090,943 over the last three months. Insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at approximately $2,230,000. Leisure Capital Management boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.5% in the first quarter. Leisure Capital Management now owns 16,339 shares of the financial services provider’s stock valued at $2,119,000 after buying an additional 83 shares in the last quarter. Financial Architects Inc boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 68.1% in the first quarter. Financial Architects Inc now owns 1,866 shares of the financial services provider’s stock valued at $242,000 after buying an additional 756 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at approximately $202,000. Finally, Granite Investment Partners LLC boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 10.5% in the first quarter. Granite Investment Partners LLC now owns 2,100 shares of the financial services provider’s stock valued at $272,000 after buying an additional 200 shares in the last quarter. 80.67% of the stock is owned by institutional investors and hedge funds.

About AMERIPRISE FINANCIAL SERVICES, INC.

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, INC. (NYSE:AMP)

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