American Assets Investment Management LLC Cuts Position in Ameriprise Financial Services, Inc. (AMP)

American Assets Investment Management LLC reduced its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 19.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,690 shares of the financial services provider’s stock after selling 4,950 shares during the quarter. American Assets Investment Management LLC’s holdings in Ameriprise Financial Services were worth $3,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Montecito Bank & Trust lifted its position in Ameriprise Financial Services by 19.5% during the 3rd quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock worth $363,000 after buying an additional 399 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ameriprise Financial Services by 109.3% during the 2nd quarter. Principal Financial Group Inc. now owns 508,733 shares of the financial services provider’s stock worth $64,757,000 after buying an additional 265,632 shares in the last quarter. Intrust Bank NA lifted its position in Ameriprise Financial Services by 0.7% during the 2nd 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Ameriprise Financial Services during the 2nd quarter worth about $25,127,000. Finally, First Eagle Investment Management LLC lifted its position in Ameriprise Financial Services by 100.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 21,324 shares of the financial services provider’s stock worth $2,714,000 after buying an additional 10,662 shares in the last quarter. 80.10% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on AMP shares. Zacks Investment Research raised shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Friday, September 1st. Morgan Stanley boosted their price target 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. Royal Bank Of Canada set a $149.00 price target on shares of Ameriprise Financial Services and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. Finally, BidaskClub raised shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ameriprise Financial Services currently has an average rating of “Buy” and a consensus price target of $154.20.

Ameriprise Financial Services, Inc. (NYSE:AMP) traded down 0.64% on Tuesday, hitting $157.28. 287,839 shares of the stock traded hands. Ameriprise Financial Services, Inc. has a 52 week low of $86.25 and a 52 week high of $163.04. The firm has a market capitalization of $23.58 billion, a PE ratio of 18.01 and a beta of 1.88. The stock has a 50 day moving average of $148.66 and a 200 day moving average of $136.66.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.33. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.20%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the firm earned $2.29 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial Services, Inc. will post $11.98 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, November 3rd. Ameriprise Financial Services’s payout ratio is currently 30.97%.

In related news, EVP Colin Moore sold 4,285 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $161.09, for a total transaction of $690,270.65. Following the transaction, the executive vice president now directly owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James M. Cracchiolo sold 97,545 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $144.67, for a total transaction of $14,111,835.15. Following the transaction, the chairman now directly owns 474,139 shares in the company, valued at $68,593,689.13. The disclosure for this sale can be found here. Insiders have sold 165,345 shares of company stock worth $24,152,504 over the last three months. 1.50% of the stock is owned by insiders.

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

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