APG Asset Management N.V. boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 853,885 shares of the financial services provider’s stock after buying an additional 48,200 shares during the period. APG Asset Management N.V. owned approximately 0.56% of AMERIPRISE FINANCIAL SERVICES, INC. worth $108,691,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AMP. Vanguard Group Inc. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 2.0% in the first quarter. Vanguard Group Inc. now owns 12,404,472 shares of the financial services provider’s stock valued at $1,608,613,000 after buying an additional 242,577 shares during the period. BlackRock Inc. increased 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 valued at $1,379,836,000 after buying an additional 10,052,130 shares during the period. JPMorgan Chase & Co. increased 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 valued at $770,216,000 after buying an additional 2,481,827 shares during the period. Bank of New York Mellon Corp increased 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 valued at $506,651,000 after buying an additional 1,380,098 shares during the period. Finally, Aristotle Capital Management LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 2,360,259 shares of the financial services provider’s stock valued at $306,078,000 after buying an additional 6,399 shares during the period. Institutional investors and hedge funds own 80.67% of the company’s stock.
AMERIPRISE FINANCIAL SERVICES, INC. (NYSE AMP) traded up 1.68% on Friday, hitting $148.71. 470,914 shares of the stock were exchanged. The stock has a market cap of $22.35 billion, a PE ratio of 17.03 and a beta of 1.86. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $86.25 and a 1-year high of $148.75. The company’s 50 day moving average is $133.12 and its 200 day moving average is $127.79.
AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. AMERIPRISE FINANCIAL SERVICES, INC. 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 previous year, the company earned $2.23 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 earnings per share for the current year.
AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has approved a stock buyback plan on Monday, April 24th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 2.27%. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio is currently 37.81%.
TRADEMARK VIOLATION NOTICE: This story was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://stocknewstimes.com/2017/08/04/apg-asset-management-n-v-raises-position-in-ameriprise-financial-services-inc-nyseamp-updated.html.
Several research analysts have recently weighed in on AMP shares. Citigroup Inc. set a $166.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. SunTrust Banks, Inc. restated a “hold” rating and issued a $127.00 target price (up from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Wednesday, April 26th. Royal Bank Of Canada set a $149.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Finally, BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $145.64.
In other AMERIPRISE FINANCIAL SERVICES, INC. news, CEO William F. Truscott sold 19,768 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction on Monday, July 31st. The shares were sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the sale, the chief executive officer now owns 70,693 shares in the company, valued at $10,210,189.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kelli A. Hunter sold 943 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction on Monday, May 8th. The stock was sold at an average price of $128.80, for a total transaction of $121,458.40. Following the sale, the vice president now owns 39,919 shares in the company, valued at approximately $5,141,567.20. The disclosure for this sale can be found here. Insiders have sold 132,416 shares of company stock worth $19,090,943 in the last quarter. 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.
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.
