Morgan Stanley Boosts AMERIPRISE FINANCIAL SERVICES, INC. (AMP) Price Target to $162.00

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) had its price target upped by Morgan Stanley from $152.00 to $162.00 in a research note published on Thursday morning. The brokerage currently has an overweight rating on the financial services provider’s stock.

AMP has been the topic of several other reports. BidaskClub raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a sell rating to a hold rating in a research note on Tuesday, June 20th. Barclays PLC reaffirmed an equal weight rating on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Monday, October 2nd. Zacks Investment Research raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a hold rating to a buy rating and set a $155.00 target price on the stock in a research note on Friday, September 1st. Finally, Royal Bank Of Canada began 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 on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $149.31.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP) opened at 150.99 on Thursday. The company has a market capitalization of $22.64 billion, a price-to-earnings ratio of 17.29 and a beta of 1.88. The stock has a 50 day moving average of $141.07 and a 200-day moving average of $133.49. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $86.25 and a 1-year high of $151.98.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, topping the 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 company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.28 earnings per share for the current year.

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In related news, CEO William F. Truscott sold 19,768 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction on Monday, July 31st. The shares were sold at an average price of $144.43, for a total value of $2,855,092.24. Following the sale, the chief executive officer now owns 70,693 shares in the company, valued at $10,210,189.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman James M. Cracchiolo sold 97,545 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $144.67, for a total transaction of $14,111,835.15. Following the completion of the sale, the chairman now owns 474,139 shares in the company, valued at approximately $68,593,689.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,979 shares of company stock worth $26,479,126. 1.50% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares in the last quarter. Parallel Advisors LLC boosted its holdings in AMERIPRISE FINANCIAL SERVICES, INC. by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 116 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in AMERIPRISE FINANCIAL SERVICES, INC. by 284.0% in the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 230 shares in the last quarter. Sun Life Financial INC boosted its holdings in AMERIPRISE FINANCIAL SERVICES, INC. by 10,100.0% in the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in AMERIPRISE FINANCIAL SERVICES, INC. in the first quarter valued at $149,000. Institutional investors and hedge funds own 79.39% 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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