AMERIPRISE FINANCIAL SERVICES, INC. (AMP) Insider David Kent Stewart Sells 4,945 Shares

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) insider David Kent Stewart sold 4,945 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $144.21, for a total transaction of $713,118.45. Following the completion of the sale, the insider now owns 21,969 shares in the company, valued at $3,168,149.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AMERIPRISE FINANCIAL SERVICES, INC. (AMP) traded down 0.30% during mid-day trading on Friday, reaching $143.36. 1,009,673 shares of the company’s stock traded hands. The stock has a market cap of $21.50 billion, a P/E ratio of 16.42 and a beta of 1.86. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $86.25 and a 1-year high of $149.99. The firm has a 50-day moving average price of $137.07 and a 200-day moving average price of $129.38.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last issued its earnings results 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. AMERIPRISE FINANCIAL SERVICES, INC. had a return on equity of 26.54% and a net margin of 11.81%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $2.23 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 EPS for the current fiscal year.

AMERIPRISE FINANCIAL SERVICES, INC. declared that its Board of Directors has approved a stock repurchase program on Monday, April 24th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a $0.83 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.32%. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio is currently 37.81%.

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A number of research firms have recently issued reports on AMP. Barclays PLC boosted their price target on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday. Deutsche Bank AG restated a “hold” rating and set a $140.00 price target (up previously from $137.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Thursday, April 20th. Royal Bank Of Canada assumed coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price target on the stock. BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Citigroup Inc. set a $166.00 price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a research note on Wednesday, August 2nd. One equities research 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. The company has a consensus rating of “Buy” and an average target price of $146.98.

A number of hedge funds and other institutional investors have recently modified their holdings of AMP. Vanguard Group Inc. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 2.7% in the second quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock valued at $1,622,270,000 after buying an additional 340,206 shares in the last quarter. BlackRock Inc. increased its stake 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 worth $1,379,836,000 after buying an additional 10,052,130 shares during the period. JPMorgan Chase & Co. increased its stake 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 worth $770,216,000 after buying an additional 2,481,827 shares during the period. Bank of New York Mellon Corp increased its stake 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 worth $506,651,000 after buying an additional 1,380,098 shares during the period. Finally, LSV Asset Management increased its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 4.4% in the second quarter. LSV Asset Management now owns 2,739,924 shares of the financial services provider’s stock worth $348,764,000 after buying an additional 116,706 shares during the period. Institutional investors and hedge funds own 81.72% 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.

Insider Buying and Selling by Quarter for AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

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