Brokers Set Expectations for Ameriprise Financial Services, Inc.’s FY2017 Earnings (NYSE:AMP)

Ameriprise Financial Services, Inc. (NYSE:AMP) – Equities research analysts at SunTrust Banks boosted their FY2017 earnings estimates for Ameriprise Financial Services in a research report issued on Wednesday, Zacks Investment Research reports. SunTrust Banks analyst D. Mewhirter now anticipates that the financial services provider will post earnings per share of $11.84 for the year, up from their previous estimate of $11.38. SunTrust Banks has a “Hold” rating and a $165.00 price target on the stock. SunTrust Banks also issued estimates for Ameriprise Financial Services’ Q4 2017 earnings at $3.22 EPS, Q1 2018 earnings at $3.26 EPS, Q2 2018 earnings at $3.30 EPS, Q3 2018 earnings at $3.37 EPS, Q4 2018 earnings at $3.49 EPS and FY2018 earnings at $13.42 EPS.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.33. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. COPYRIGHT VIOLATION WARNING: “Brokers Set Expectations for Ameriprise Financial Services, Inc.’s FY2017 Earnings (NYSE:AMP)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2017/11/12/fy2017-eps-estimates-for-ameriprise-financial-services-inc-lifted-by-suntrust-banks-amp.html.

Several other equities analysts have also issued reports on AMP. Morgan Stanley upped their price target on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. Royal Bank of Canada set a $149.00 price target on Ameriprise Financial Services and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a research note on Thursday, July 27th. Citigroup Inc. set a $166.00 price target on Ameriprise Financial Services and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub upgraded Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $154.20.

Shares of Ameriprise Financial Services (NYSE:AMP) traded down $1.83 on Friday, hitting $157.22. The stock had a trading volume of 580,000 shares, compared to its average volume of 1,046,243. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82. Ameriprise Financial Services has a twelve month low of $108.81 and a twelve month high of $163.04. The firm has a market capitalization of $23,528.27, a price-to-earnings ratio of 13.52 and a beta of 1.92.

Several large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in shares of Ameriprise Financial Services by 4.1% during the third quarter. Wells Fargo & Company MN now owns 2,195,435 shares of the financial services provider’s stock worth $326,044,000 after buying an additional 86,514 shares in the last quarter. Zeke Capital Advisors LLC grew its holdings in shares of Ameriprise Financial Services by 54.2% during the third quarter. Zeke Capital Advisors LLC now owns 2,727 shares of the financial services provider’s stock worth $405,000 after buying an additional 959 shares in the last quarter. Twin Capital Management Inc. grew its holdings in shares of Ameriprise Financial Services by 13.6% during the third quarter. Twin Capital Management Inc. now owns 27,716 shares of the financial services provider’s stock worth $4,116,000 after buying an additional 3,319 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Ameriprise Financial Services by 7.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,194 shares of the financial services provider’s stock worth $1,811,000 after buying an additional 868 shares in the last quarter. Finally, Achmea Investment Management B.V. grew its holdings in shares of Ameriprise Financial Services by 168.7% during the third quarter. Achmea Investment Management B.V. now owns 10,356 shares of the financial services provider’s stock worth $1,536,000 after buying an additional 6,502 shares in the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.

In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 42,228 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $159.33, for a total value of $6,728,187.24. Following the completion of the sale, the chairman now directly owns 242,013 shares in the company, valued at $38,559,931.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Colin Moore sold 4,285 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $161.09, for a total value of $690,270.65. Following the completion of the sale, the executive vice president now owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The disclosure for this sale can be found here. Insiders sold 99,167 shares of company stock valued at $15,244,202 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a $0.83 dividend. The ex-dividend date is Friday, November 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 2.11%. Ameriprise Financial Services’s dividend payout ratio is presently 30.97%.

About Ameriprise Financial Services

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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Earnings History and Estimates for Ameriprise Financial Services (NYSE:AMP)

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