Capstone Asset Management Co. boosted its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,416 shares of the financial services provider’s stock after buying an additional 471 shares during the period. Capstone Asset Management Co.’s holdings in Ameriprise Financial Services were worth $1,835,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Ameriprise Financial Services by 2.0% in the first quarter. Vanguard Group Inc. now owns 12,404,472 shares of the financial services provider’s stock worth $1,608,613,000 after buying an additional 242,577 shares during the last quarter. BlackRock Inc. boosted its stake in Ameriprise Financial Services by 1,709.0% in the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock valued at $1,379,836,000 after buying an additional 10,052,130 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial Services by 71.8% in the first quarter. JPMorgan Chase & Co. now owns 5,939,366 shares of the financial services provider’s stock valued at $770,216,000 after buying an additional 2,481,827 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Ameriprise Financial Services by 54.6% in the first quarter. Bank of New York Mellon Corp now owns 3,906,928 shares of the financial services provider’s stock valued at $506,651,000 after buying an additional 1,380,098 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its stake in Ameriprise Financial Services by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 2,360,259 shares of the financial services provider’s stock valued at $306,078,000 after buying an additional 6,399 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.
Ameriprise Financial Services, Inc. (NYSE:AMP) traded down 0.30% on Friday, reaching $143.36. The company’s stock had a trading volume of 1,009,673 shares. The company has a market cap of $21.50 billion, a P/E ratio of 16.42 and a beta of 1.86. The company has a 50-day moving average price of $136.59 and a 200 day moving average price of $129.16. Ameriprise Financial Services, Inc. has a 12 month low of $86.25 and a 12 month high of $149.99.
Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.
Ameriprise Financial Services announced that its Board of Directors has initiated a stock buyback program on Monday, April 24th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 37.81%.
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Several equities research analysts have recently weighed in on AMP shares. BidaskClub raised Ameriprise Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a research report on Thursday, July 27th. Barclays PLC raised their target price on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $127.00 target price (up from $124.00) on shares of Ameriprise Financial Services in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $146.98.
In related news, EVP Randy Kupper sold 2,987 shares of Ameriprise Financial Services stock in a transaction 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 completion of the sale, the executive vice president now owns 30,969 shares of the company’s stock, valued at $4,033,402.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kelli A. Hunter sold 1,500 shares of Ameriprise Financial Services stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $144.59, for a total value of $216,885.00. Following the sale, the vice president now directly owns 27,356 shares of the company’s stock, valued at approximately $3,955,404.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,891 shares of company stock valued at $20,931,867. 1.50% of the stock is owned by company insiders.
Ameriprise Financial Services 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.
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