Ameriprise Financial Services, Inc. (AMP) Stake Increased by Alliancebernstein L.P.

Alliancebernstein L.P. grew its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 305,555 shares of the financial services provider’s stock after buying an additional 11,155 shares during the period. Alliancebernstein L.P. owned 0.20% of Ameriprise Financial Services worth $38,894,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Aberdeen Asset Management PLC UK boosted its holdings in shares of Ameriprise Financial Services by 14.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 42,765 shares of the financial services provider’s stock valued at $5,443,000 after buying an additional 5,294 shares in the last quarter. HPM Partners LLC boosted its holdings in shares of Ameriprise Financial Services by 118.2% in the 2nd quarter. HPM Partners LLC now owns 8,730 shares of the financial services provider’s stock valued at $1,111,000 after buying an additional 4,729 shares in the last quarter. AXA boosted its holdings in shares of Ameriprise Financial Services by 977.6% in the 2nd quarter. AXA now owns 310,074 shares of the financial services provider’s stock valued at $39,470,000 after buying an additional 281,300 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Ameriprise Financial Services by 1.0% in the 2nd quarter. Franklin Resources Inc. now owns 31,937 shares of the financial services provider’s stock valued at $4,065,000 after buying an additional 316 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its holdings in shares of Ameriprise Financial Services by 12.0% in the 2nd quarter. CIBC World Markets Inc. now owns 5,389 shares of the financial services provider’s stock valued at $686,000 after buying an additional 577 shares in the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.

Ameriprise Financial Services, Inc. (NYSE AMP) opened at 139.86 on Friday. The company has a 50 day moving average of $140.74 and a 200 day moving average of $132.04. 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 capitalization of $20.97 billion, a price-to-earnings ratio of 16.02 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings results 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 firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.23 earnings per share. On average, equities analysts predict that Ameriprise Financial Services, Inc. will post $11.29 EPS for the current year.

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

In related news, Chairman James M. Cracchiolo sold 39,450 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total value of $5,700,525.00. Following the completion of the transaction, the chairman now directly owns 260,887 shares of the company’s stock, valued at $37,698,171.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president now directly owns 30,969 shares of the company’s stock, valued at $4,033,402.56. The disclosure for this sale can be found here. Insiders sold 185,966 shares of company stock valued at $26,868,153 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Ameriprise Financial Services, Inc. (AMP) Stake Increased by Alliancebernstein L.P.” was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2017/09/17/ameriprise-financial-services-inc-amp-stake-increased-by-alliancebernstein-l-p.html.

A number of analysts have recently weighed in on AMP shares. Zacks Investment Research upgraded 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 report on Friday, September 1st. Morgan Stanley raised their price target on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. BidaskClub upgraded shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $146.87.

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)

Receive News & Ratings for Ameriprise Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply