BLB&B Advisors LLC maintained its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,062 shares of the financial services provider’s stock at the end of the second quarter. BLB&B Advisors LLC’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $267,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in AMP. Fulton Bank N.A. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 41.0% in the first quarter. Fulton Bank N.A. now owns 3,134 shares of the financial services provider’s stock worth $406,000 after buying an additional 912 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 134,167 shares of the financial services provider’s stock worth $17,399,000 after buying an additional 611 shares in the last quarter. Private Asset Management Inc. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 17.3% in the first quarter. Private Asset Management Inc. now owns 3,390 shares of the financial services provider’s stock worth $440,000 after buying an additional 500 shares in the last quarter. Park National Corp OH acquired a new position in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth approximately $218,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the fourth quarter worth approximately $568,000. Institutional investors own 80.65% of the company’s stock.
AMERIPRISE FINANCIAL SERVICES, INC. (AMP) traded down 0.33% during midday trading on Friday, hitting $136.34. The stock had a trading volume of 840,531 shares. The company’s 50 day moving average price is $128.92 and its 200-day moving average price is $126.11. AMERIPRISE FINANCIAL SERVICES, INC. has a 52-week low of $86.25 and a 52-week high of $137.39. The stock has a market cap of $20.79 billion, a PE ratio of 16.59 and a beta of 1.84.
AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last announced its earnings results on Monday, April 24th. The financial services provider reported $2.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.18. AMERIPRISE FINANCIAL SERVICES, INC. had a return on equity of 24.75% and a net margin of 11.44%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the company posted $2.17 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $10.88 EPS for the current fiscal year.
AMERIPRISE FINANCIAL SERVICES, INC. declared that its Board of Directors has initiated a stock buyback plan on Monday, April 24th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages recently commented on AMP. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $127.00 price objective (up previously from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Wednesday, April 26th. Zacks Investment Research downgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Barclays PLC reiterated an “equal weight” rating and issued a $130.00 price objective (up previously from $127.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Tuesday, April 25th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $134.48.
In related news, EVP Randy Kupper sold 2,987 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $130.24, for a total transaction of $389,026.88. Following the transaction, the executive vice president now directly owns 30,969 shares of the company’s stock, valued at approximately $4,033,402.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kelli A. Hunter sold 943 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $128.80, for a total value of $121,458.40. Following the transaction, the vice president now directly owns 39,919 shares in the company, valued at $5,141,567.20. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
AMERIPRISE FINANCIAL SERVICES, INC. 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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