Aristotle Capital Management LLC Purchases 6,399 Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

Aristotle Capital Management LLC increased its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,360,259 shares of the financial services provider’s stock after buying an additional 6,399 shares during the period. AMERIPRISE FINANCIAL SERVICES, INC. makes up about 2.8% of Aristotle Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Aristotle Capital Management LLC owned approximately 1.55% of AMERIPRISE FINANCIAL SERVICES, INC. worth $306,078,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 1,709.0% in the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock worth $1,379,836,000 after buying an additional 10,052,130 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 71.8% in the first quarter. JPMorgan Chase & Co. now owns 5,939,366 shares of the financial services provider’s stock worth $770,216,000 after buying an additional 2,481,827 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 54.6% in the first quarter. Bank of New York Mellon Corp now owns 3,906,928 shares of the financial services provider’s stock worth $506,651,000 after buying an additional 1,380,098 shares in the last quarter. FMR LLC raised its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 115.7% in the first quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock worth $119,130,000 after buying an additional 492,785 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 55.1% in the fourth quarter. Teachers Advisors LLC now owns 1,059,665 shares of the financial services provider’s stock worth $117,559,000 after buying an additional 376,468 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) traded up 1.37% during midday trading on Friday, hitting $144.45. 1,240,358 shares of the stock were exchanged. AMERIPRISE FINANCIAL SERVICES, INC. has a 52-week low of $86.25 and a 52-week high of $145.88. The stock has a market cap of $21.71 billion, a P/E ratio of 16.54 and a beta of 1.84. The firm’s 50 day moving average price is $132.07 and its 200-day moving average price is $127.17.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a return on equity of 26.54% and a net margin of 11.81%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 EPS. On average, equities research analysts expect that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 earnings per share for the current fiscal year.

AMERIPRISE FINANCIAL SERVICES, INC. declared that its board has authorized a stock buyback program on Monday, April 24th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.30%. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is presently 37.81%.

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AMP has been the subject of a number of research reports. Zacks Investment Research upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 target price for the company in a research report on Thursday. BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Citigroup Inc. reiterated a “buy” rating on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Monday, April 3rd. Barclays PLC reiterated an “equal weight” rating and set a $130.00 target price (up previously from $127.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Tuesday, April 25th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $140.00 target price (up previously from $137.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $142.64.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, EVP Randy Kupper sold 2,987 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $130.24, for a total value of $389,026.88. Following the completion of the transaction, the executive vice president now directly owns 30,969 shares in the company, valued at approximately $4,033,402.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kelli A. Hunter sold 943 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $128.80, for a total value of $121,458.40. Following the completion of the transaction, the vice president now owns 39,919 shares of the company’s stock, valued at $5,141,567.20. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

About AMERIPRISE FINANCIAL SERVICES, INC.

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, INC. (NYSE:AMP)

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