Research Analysts’ Weekly Ratings Updates for Ameriprise Financial Services (AMP)
Several brokerages have updated their recommendations and price targets on shares of Ameriprise Financial Services (NYSE: AMP) in the last few weeks:
- 8/4/2017 – Ameriprise Financial Services was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
- 8/2/2017 – Ameriprise Financial Services was given a new $166.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
- 7/27/2017 – Ameriprise Financial Services was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $156.00 price target on the 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.”
- 7/26/2017 – Ameriprise Financial Services had its price target raised by analysts at Morgan Stanley from $148.00 to $152.00. They now have an “overweight” rating on the stock.
- 7/26/2017 – Ameriprise Financial Services was given a new $149.00 price target on by analysts at Royal Bank Of Canada. They now have a “sector perform” rating on the stock.
- 7/12/2017 – Ameriprise Financial Services was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 6/29/2017 – Ameriprise Financial Services is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $135.00 price target on the stock.
- 6/20/2017 – Ameriprise Financial Services was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
Shares of Ameriprise Financial Services, Inc. (AMP) traded down 2.81% during mid-day trading on Thursday, reaching $143.79. 1,427,154 shares of the company’s stock traded hands. Ameriprise Financial Services, Inc. has a one year low of $86.25 and a one year high of $149.99. The firm’s 50-day moving average is $136.14 and its 200 day moving average is $129.06. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 16.47 and a beta of 1.86.
Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $2.23 earnings per share. Ameriprise Financial Services’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Ameriprise Financial Services, Inc. will post $11.30 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 37.81%.
In other news, Chairman James M. Cracchiolo sold 97,545 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total value of $14,111,835.15. Following the completion of the transaction, the chairman now owns 474,139 shares in the company, valued at $68,593,689.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James M. Cracchiolo sold 13,418 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $146.25, for a total value of $1,962,382.50. Following the completion of the transaction, the chairman now owns 283,891 shares of the company’s stock, valued at approximately $41,519,058.75. The disclosure for this sale can be found here. In the last three months, insiders sold 144,891 shares of company stock valued at $20,931,867. 1.50% of the stock is owned by corporate insiders.
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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