BLB&B Advisors LLC continued to hold its stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock valued at $108,000 after buying an additional 4 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock valued at $124,000 after buying an additional 22 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $124,000. State of Alaska Department of Revenue acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $125,000. Finally, Meeder Asset Management Inc. acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $149,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) opened at 147.95 on Thursday. The firm has a 50 day moving average price of $136.14 and a 200-day moving average price of $129.06. The firm has a market cap of $22.24 billion, a P/E ratio of 16.95 and a beta of 1.86. AMERIPRISE FINANCIAL SERVICES, INC. has a one year low of $86.25 and a one year high of $149.99.
AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. AMERIPRISE FINANCIAL SERVICES, INC.’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 EPS. Analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 earnings per share for the current year.
AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has initiated a share buyback program on Monday, April 24th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business 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 2.24%. AMERIPRISE FINANCIAL SERVICES, INC.’s payout ratio is 37.81%.
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Several analysts have issued reports on the company. Citigroup Inc. set a $166.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Royal Bank Of Canada set a $149.00 target price on AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “sector perform” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 target price on the stock in a research note on Thursday, July 27th. Finally, Morgan Stanley increased their target price on AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AMERIPRISE FINANCIAL SERVICES, INC. currently has a consensus rating of “Buy” and a consensus target price of $145.64.
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 shares were sold at an average price of $130.24, for a total transaction of $389,026.88. Following the transaction, the executive vice president now owns 30,969 shares in the company, valued at approximately $4,033,402.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James M. Cracchiolo sold 13,418 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $146.25, for a total transaction of $1,962,382.50. Following the completion of the sale, the chairman now directly owns 283,891 shares in the company, valued at $41,519,058.75. The disclosure for this sale can be found here. Insiders have sold a total of 144,891 shares of company stock worth $20,931,867 in the last 90 days. 1.50% of the stock is currently owned by company insiders.
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.
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