OLD National Bancorp IN Has $558,000 Position in Ameriprise Financial Services, Inc. (AMP)

OLD National Bancorp IN decreased its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 3.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,386 shares of the financial services provider’s stock after selling 161 shares during the period. OLD National Bancorp IN’s holdings in Ameriprise Financial Services were worth $558,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Ameriprise Financial Services by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock worth $108,000 after buying an additional 4 shares during the period. RMB Capital Management LLC raised its position in Ameriprise Financial Services by 0.9% in the first quarter. RMB Capital Management LLC now owns 1,917 shares of the financial services provider’s stock worth $249,000 after buying an additional 17 shares in the last quarter. Savant Capital LLC raised its position in Ameriprise Financial Services by 0.7% in the first quarter. Savant Capital LLC now owns 3,067 shares of the financial services provider’s stock worth $398,000 after buying an additional 20 shares in the last quarter. Dubuque Bank & Trust Co. raised its position in Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock worth $124,000 after buying an additional 22 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in Ameriprise Financial Services by 1.1% in the first quarter. Private Advisor Group LLC now owns 2,608 shares of the financial services provider’s stock worth $334,000 after buying an additional 28 shares in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Services, Inc. (NYSE:AMP) traded down 0.30% during trading on Friday, reaching $143.36. 1,009,673 shares of the company were exchanged. Ameriprise Financial Services, Inc. has a 1-year low of $86.25 and a 1-year high of $149.99. The company’s 50-day moving average price is $136.59 and its 200-day moving average price is $129.16. The stock has a market capitalization of $21.50 billion, a P/E ratio of 16.42 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 earnings per share. On average, equities analysts forecast that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.32%. Ameriprise Financial Services’s dividend payout ratio (DPR) is 37.81%.

Ameriprise Financial Services announced that its Board of Directors has approved a stock repurchase program on Monday, April 24th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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AMP has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Royal Bank Of Canada set a $149.00 price target on shares of Ameriprise Financial Services and gave the company a “sector perform” rating in a research report on Wednesday, July 26th. Barclays PLC reiterated an “equal weight” rating and issued a $130.00 target price (up from $127.00) on shares of Ameriprise Financial Services in a research report on Tuesday, April 25th. SunTrust Banks, Inc. reiterated 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. Finally, Morgan Stanley upped their target price on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $146.98.

In other news, EVP Randy Kupper sold 2,987 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $130.24, for a total transaction of $389,026.88. Following the transaction, the executive vice president now directly owns 30,969 shares in the company, valued at $4,033,402.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 19,768 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the transaction, the chief executive officer now owns 70,693 shares in the company, valued at $10,210,189.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,891 shares of company stock worth $20,931,867. 1.50% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Ameriprise Financial Services (NYSE:AMP)

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