AMERIPRISE FINANCIAL SERVICES, INC. (AMP) Stock Rating Lowered by BidaskClub

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently issued reports on AMP. Barclays PLC raised their target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Citigroup Inc. set a $166.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada assumed coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 target price for the company. Zacks Investment Research upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 target price for the company in a research note on Thursday, July 27th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $127.00 target price (up from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $146.98.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE AMP) opened at 138.80 on Friday. The firm has a market capitalization of $20.81 billion, a PE ratio of 15.90 and a beta of 1.86. The company has a 50 day moving average price of $139.27 and a 200-day moving average price of $130.37. AMERIPRISE FINANCIAL SERVICES, INC. has a one year low of $86.25 and a one year high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (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, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business posted $2.23 EPS. AMERIPRISE FINANCIAL SERVICES, INC.’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 EPS for the current year.

AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has initiated a stock buyback program on Monday, April 24th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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In other AMERIPRISE FINANCIAL SERVICES, INC. news, VP Karen Wilson Thissen sold 425 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $145.15, for a total transaction of $61,688.75. Following the completion of the sale, the vice president now directly owns 10,956 shares in the company, valued at $1,590,263.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Randy Kupper sold 2,987 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $130.24, for a total transaction of $389,026.88. Following the sale, the executive vice president now owns 30,969 shares of the company’s stock, valued at $4,033,402.56. The disclosure for this sale can be found here. Insiders have sold 185,966 shares of company stock valued at $26,868,153 over the last 90 days. Company insiders own 1.50% of the company’s stock.

A number of large investors have recently modified their holdings of AMP. Hennessy Advisors Inc. acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth $2,230,000. Leisure Capital Management increased 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 worth $2,119,000 after buying an additional 83 shares during the last quarter. Financial Architects Inc increased 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 worth $242,000 after buying an additional 756 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth $202,000. Finally, Granite Investment Partners LLC increased 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 worth $272,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

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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