Shares of Ameriprise Financial Services Inc. (NYSE:AMP) gapped down prior to trading on Tuesday . The stock had previously closed at $91.26, but opened at $91.66. Ameriprise Financial Services shares last traded at $94.45, with a volume of 477,610 shares traded.

A number of brokerages have commented on AMP. Royal Bank Of Canada reduced their price target on Ameriprise Financial Services from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Thursday, April 28th. Zacks Investment Research upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. SunTrust Banks Inc. initiated coverage on Ameriprise Financial Services in a research report on Tuesday, March 22nd. They issued a “buy” rating and a $115.00 price target for the company. Deutsche Bank AG reiterated a “buy” rating and set a $114.00 target price on shares of Ameriprise Financial Services in a research report on Wednesday, April 6th. Finally, Citigroup Inc. increased their target price on Ameriprise Financial Services from $94.00 to $99.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Ameriprise Financial Services currently has an average rating of “Buy” and a consensus price target of $119.04.

The stock’s 50 day moving average is $96.12 and its 200-day moving average is $93.47. The company has a market capitalization of $15.69 billion and a price-to-earnings ratio of 11.14.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $2.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.18 by $0.01. The firm earned $2.79 billion during the quarter, compared to analyst estimates of $2.93 million. During the same period in the previous year, the business posted $2.18 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts predict that Ameriprise Financial Services Inc. will post $9.51 earnings per share for the current fiscal year.

In related news, CEO William F. Truscott sold 10,300 shares of Ameriprise Financial Services stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $95.98, for a total value of $988,594.00. Following the completion of the transaction, the chief executive officer now owns 12,653 shares in the company, valued at approximately $1,214,434.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kelli A. Hunter sold 3,486 shares of Ameriprise Financial Services stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $102.07, for a total value of $355,816.02. Following the completion of the transaction, the vice president now owns 29,258 shares of the company’s stock, valued at approximately $2,986,364.06. The disclosure for this sale can be found here.

Several institutional investors have made changes to their positions in AMP. Brown Advisory Inc. raised its position in shares of Ameriprise Financial Services by 139.4% in the fourth quarter. Brown Advisory Inc. now owns 863,591 shares of the company’s stock valued at $91,904,000 after buying an additional 502,907 shares in the last quarter. Morgan Stanley raised its position in shares of Ameriprise Financial Services by 64.3% in the fourth quarter. Morgan Stanley now owns 835,881 shares of the company’s stock valued at $88,954,000 after buying an additional 327,238 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Ameriprise Financial Services by 7.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,353,485 shares of the company’s stock valued at $144,038,000 after buying an additional 91,525 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ameriprise Financial Services by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,966,798 shares of the company’s stock valued at $1,060,667,000 after buying an additional 88,449 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of Ameriprise Financial Services during the fourth quarter valued at $5,688,000.

Ameriprise Financial, Inc is a diversified 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 Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors.

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