Ameriprise Financial Services, Inc. (AMP) Position Reduced by BlackRock Inc.

BlackRock Inc. trimmed its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,483,877 shares of the financial services provider’s stock after selling 156,428 shares during the quarter. BlackRock Inc. owned about 6.98% of Ameriprise Financial Services worth $1,334,494,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Ameriprise Financial Services by 17.5% during the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 116 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings 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 valued at $106,000 after acquiring an additional 6 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Ameriprise Financial Services during the 1st quarter valued at about $124,000. Meeder Asset Management Inc. purchased a new stake in shares of Ameriprise Financial Services during the 1st quarter valued at about $149,000. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Ameriprise Financial Services by 3.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 38 shares during the last quarter. 79.55% of the stock is currently owned by institutional investors.

Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 139.86 on Friday. Ameriprise Financial Services, Inc. has a 12-month low of $86.25 and a 12-month high of $149.99. The stock has a market cap of $20.97 billion, a P/E ratio of 16.02 and a beta of 1.86. The company has a 50 day moving average of $140.74 and a 200-day moving average of $132.04.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that Ameriprise Financial Services, Inc. will post $11.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were given a $0.83 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 2.37%. Ameriprise Financial Services’s dividend payout ratio is currently 37.81%.

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A number of brokerages have recently issued reports on AMP. Zacks Investment Research downgraded shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub downgraded shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Barclays PLC raised their price target on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Citigroup Inc. set a $166.00 price target on shares of Ameriprise Financial Services and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, 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 report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Ameriprise Financial Services currently has a consensus rating of “Hold” and an average price target of $146.87.

In related news, Chairman James M. Cracchiolo sold 13,418 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $146.25, for a total value of $1,962,382.50. Following the sale, the chairman now owns 283,891 shares in the company, valued at $41,519,058.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Randy Kupper sold 2,987 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $130.24, for a total value of $389,026.88. Following the completion of the sale, the executive vice president now owns 30,969 shares in the company, valued at approximately $4,033,402.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,966 shares of company stock worth $26,868,153. 1.50% of the stock is owned by insiders.

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.

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

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