Ameriprise Financial Services, Inc. (AMP) Stake Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 233,044 shares of the financial services provider’s stock after selling 10,688 shares during the period. Wedge Capital Management L L P NC owned 0.16% of Ameriprise Financial Services worth $34,609,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of Ameriprise Financial Services by 0.7% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the last quarter. Parallel Advisors LLC grew its stake in Ameriprise Financial Services by 17.5% in the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after buying an additional 116 shares during the last quarter. IHT Wealth Management LLC grew its stake in Ameriprise Financial Services by 284.0% in the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after buying an additional 230 shares during the last quarter. Sun Life Financial INC grew its stake in Ameriprise Financial Services by 10,100.0% in the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,111 shares during the last quarter. Finally, Johnson Financial Group Inc. grew its stake in Ameriprise Financial Services by 3.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock valued at $150,000 after buying an additional 38 shares during the last quarter. Institutional investors own 80.10% of the company’s stock.

A number of research analysts recently commented on AMP shares. SunTrust Banks, Inc. upped their price target on shares of Ameriprise Financial Services from $140.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, September 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 note on Wednesday, July 26th. BidaskClub lowered shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Finally, Barclays PLC reiterated an “equal weight” rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $154.20.

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Ameriprise Financial Services, Inc. (AMP) traded up $3.02 during midday trading on Friday, reaching $159.59. 755,410 shares of the company’s stock were exchanged, compared to its average volume of 817,048. The stock has a market cap of $23.75 billion, a P/E ratio of 13.65 and a beta of 1.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.67 and a current ratio of 0.67.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.33. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. Ameriprise Financial Services’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $2.29 earnings per share. equities research analysts forecast that Ameriprise Financial Services, Inc. will post 12.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, November 3rd. This represents a $3.32 annualized dividend and a dividend yield of 2.08%. Ameriprise Financial Services’s dividend payout ratio (DPR) is 30.97%.

In other news, COO Charles Neal Maglaque sold 1,754 shares of Ameriprise Financial Services stock in a transaction on Friday, October 27th. The stock was sold at an average price of $161.01, for a total transaction of $282,411.54. Following the completion of the sale, the chief operating officer now directly owns 14,697 shares in the company, valued at $2,366,363.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Karen Wilson Thissen sold 425 shares of Ameriprise Financial Services stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $145.15, for a total value of $61,688.75. Following the sale, the vice president now owns 10,956 shares of the company’s stock, valued at $1,590,263.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,136 shares of company stock valued at $8,360,698. Corporate insiders own 1.50% of the company’s stock.

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

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