James M. Cracchiolo Sells 39,450 Shares of Ameriprise Financial Services, Inc. (AMP) Stock

Ameriprise Financial Services, Inc. (NYSE:AMP) Chairman James M. Cracchiolo sold 39,450 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total value of $5,700,525.00. Following the completion of the sale, the chairman now directly owns 260,887 shares of the company’s stock, valued at approximately $37,698,171.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) opened at 138.74 on Friday. Ameriprise Financial Services, Inc. has a 1-year low of $86.25 and a 1-year high of $149.99. The firm has a market cap of $20.80 billion, a PE ratio of 15.89 and a beta of 1.86. The company’s 50-day moving average price is $138.96 and its 200 day moving average price is $130.19.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS 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 had a return on equity of 26.54% and a net margin of 11.81%. Ameriprise Financial Services’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.23 EPS. On average, analysts predict that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, August 3rd. Ameriprise Financial Services’s payout ratio is 37.81%.

Ameriprise Financial Services declared that its board has approved a share repurchase plan on Monday, April 24th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position 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. Intrust Bank NA increased its position in Ameriprise Financial Services by 0.7% in the second quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock worth $228,000 after buying an additional 12 shares during the period. RMB Capital Management LLC increased 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 during the period. Stratos Wealth Partners LTD. increased its position in Ameriprise Financial Services by 0.5% in the second quarter. Stratos Wealth Partners LTD. now owns 3,472 shares of the financial services provider’s stock worth $442,000 after buying an additional 17 shares during the period. Finally, Savant Capital LLC increased 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 during the period. 82.01% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on AMP. Deutsche Bank AG reaffirmed a “hold” rating and set a $140.00 target price (up previously from $137.00) on shares of Ameriprise Financial Services in a research note on Thursday, April 20th. BidaskClub raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Barclays PLC reaffirmed an “equal weight” rating and set a $130.00 target price (up previously from $127.00) on shares of Ameriprise Financial Services in a research note on Tuesday, April 25th. Morgan Stanley raised their target price on Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada began coverage on Ameriprise Financial Services in a research note on Thursday, June 29th. They set a “sector perform” rating and a $135.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $146.98.

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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