Ameriprise Financial Services, Inc. (AMP) Given New $162.00 Price Target at Morgan Stanley
Ameriprise Financial Services, Inc. (NYSE:AMP) had its target price upped by investment analysts at Morgan Stanley from $152.00 to $162.00 in a research note issued on Thursday. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 7.61% from the stock’s previous close.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Friday, September 1st. BidaskClub raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the company a “sector perform” rating in a research report on Wednesday, July 26th. Finally, Barclays PLC lifted their target price on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Ameriprise Financial Services currently has a consensus rating of “Hold” and a consensus target price of $149.31.
Shares of Ameriprise Financial Services (AMP) traded up 0.45% on Thursday, hitting $150.55. The company had a trading volume of 1,022,324 shares. The firm’s 50 day moving average price is $140.51 and its 200-day moving average price is $133.22. Ameriprise Financial Services has a 52 week low of $86.25 and a 52 week high of $151.51. The stock has a market capitalization of $22.57 billion, a PE ratio of 17.24 and a beta of 1.88.
Ameriprise Financial Services (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, beating the Zacks’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services 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 analyst estimates of $2.90 billion. During the same quarter last year, the company earned $2.23 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that Ameriprise Financial Services will post $11.28 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/05/ameriprise-financial-services-inc-amp-given-new-162-00-price-target-at-morgan-stanley.html.
In other news, Chairman James M. Cracchiolo sold 39,450 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total value of $5,700,525.00. Following the transaction, the chairman now directly owns 260,887 shares in the company, valued at approximately $37,698,171.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Karen Wilson Thissen sold 425 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $145.15, for a total value of $61,688.75. Following the completion of the transaction, the vice president now owns 10,956 shares in the company, valued at $1,590,263.40. The disclosure for this sale can be found here. In the last three months, insiders sold 182,979 shares of company stock valued at $26,479,126. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Ameriprise Financial Services by 2.7% in the 2nd 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 during the last quarter. BlackRock Inc. boosted its stake in shares of Ameriprise Financial Services by 1,709.0% in the 1st 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 during the last quarter. LSV Asset Management boosted its stake in shares of Ameriprise Financial Services by 4.4% in the 2nd 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 during the last quarter. Aristotle Capital Management LLC boosted its stake in shares of Ameriprise Financial Services by 0.3% in the 1st quarter. Aristotle Capital Management LLC now owns 2,360,259 shares of the financial services provider’s stock worth $306,078,000 after buying an additional 6,399 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Ameriprise Financial Services by 21.6% in the 2nd quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock worth $242,543,000 after buying an additional 338,452 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.
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.
Receive News & Ratings for Ameriprise Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.