AMERIPRISE FINANCIAL SERVICES, INC. (AMP) Stock Rating Lowered by Zacks Investment Research

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Shares of Ameriprise have outperformed the industry in the last year. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. 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. in July. 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) are likely to curb profitability growth. Also, elevated levels of outflows in the Asset Management segment is expected to hurt the company’s financials in the near term.”

AMP has been the subject of a number of other research reports. Royal Bank Of Canada set a $149.00 price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a research report on Wednesday, July 26th. BidaskClub lowered shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Morgan Stanley boosted their price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Citigroup Inc. set a $166.00 price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Barclays PLC boosted their price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $146.87.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) opened at 139.86 on Friday. The stock has a 50 day moving average of $140.74 and a 200 day moving average of $132.04. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $86.25 and a 1-year high of $149.99. The stock has a market cap of $20.97 billion, a PE ratio of 16.02 and a beta of 1.86.

AMERIPRISE FINANCIAL SERVICES, INC. (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 analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 earnings per share. Equities research analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 EPS for the current year.

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In related news, EVP Deirdre Davey Mcgraw sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $145.06, for a total value of $174,072.00. Following the completion of the sale, the executive vice president now directly owns 13,689 shares in the company, valued at $1,985,726.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman James M. Cracchiolo sold 39,450 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total transaction of $5,700,525.00. Following the completion of the sale, the chairman now owns 260,887 shares of the company’s stock, valued at $37,698,171.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,966 shares of company stock valued at $26,868,153. 1.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares during the period. Parallel Advisors LLC grew its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 17.5% during the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after buying an additional 116 shares during the period. IHT Wealth Management LLC grew its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 284.0% during the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after buying an additional 230 shares during the period. Mckinley Capital Management LLC Delaware purchased a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth approximately $124,000. Finally, Sun Life Financial INC grew its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 10,100.0% during the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,111 shares during the period. Institutional investors own 79.55% of the company’s stock.

AMERIPRISE FINANCIAL SERVICES, INC. Company Profile

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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