Retirement Systems of Alabama Decreases Stake in Ameriprise Financial Services, Inc. (AMP)

Retirement Systems of Alabama lowered its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 72,745 shares of the financial services provider’s stock after selling 1,172 shares during the quarter. Retirement Systems of Alabama’s holdings in Ameriprise Financial Services were worth $10,803,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in shares of Ameriprise Financial Services by 188.1% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 61,011 shares of the financial services provider’s stock worth $9,042,000 after purchasing an additional 39,832 shares during the period. Lingohr & Partner Asset Management GmbH purchased a new stake in shares of Ameriprise Financial Services during the 3rd quarter worth about $2,675,000. BNP Paribas Arbitrage SA grew its holdings in shares of Ameriprise Financial Services by 227.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 291,634 shares of the financial services provider’s stock worth $43,311,000 after purchasing an additional 202,466 shares during the period. FDx Advisors Inc. grew its holdings in shares of Ameriprise Financial Services by 14.0% during the 3rd quarter. FDx Advisors Inc. now owns 8,724 shares of the financial services provider’s stock worth $1,296,000 after purchasing an additional 1,074 shares during the period. Finally, Alps Advisors Inc. grew its holdings in shares of Ameriprise Financial Services by 23.4% during the 3rd quarter. Alps Advisors Inc. now owns 3,476 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 660 shares during the period. Institutional investors and hedge funds own 81.45% of the company’s stock.

Ameriprise Financial Services, Inc. (AMP) opened at $158.28 on Friday. Ameriprise Financial Services, Inc. has a 52-week low of $109.19 and a 52-week high of $163.04. The stock has a market capitalization of $23,230.00, a P/E ratio of 13.36 and a beta of 1.92. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.67 and a quick ratio of 0.67.

Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.79 by $0.33. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the company posted $2.29 EPS. Ameriprise Financial Services’s quarterly revenue was up 6.3% on a year-over-year basis. equities research analysts anticipate 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 was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, November 3rd. Ameriprise Financial Services’s payout ratio is 31.00%.

A number of equities analysts have weighed in on the company. Royal Bank Of Canada set a $155.00 price target on Ameriprise Financial Services and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. SunTrust Banks, Inc. upped their price target on Ameriprise Financial Services from $140.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Morgan Stanley upped their price target on Ameriprise Financial Services from $152.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Thursday, October 5th. Finally, Barclays PLC restated an “equal weight” rating on shares of Ameriprise Financial Services in a report on Monday, October 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $154.20.

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In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 42,228 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $159.33, for a total value of $6,728,187.24. Following the transaction, the chairman now directly owns 242,013 shares of the company’s stock, valued at approximately $38,559,931.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Robert Woerner sold 9,022 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $160.91, for a total value of $1,451,730.02. Following the completion of the transaction, the insider now directly owns 43,167 shares in the company, valued at $6,946,001.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,717 shares of company stock worth $9,543,677. 1.50% of the stock is currently owned by corporate insiders.

Ameriprise Financial Services 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.

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

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