PGGM Investments lowered its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 1.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 108,701 shares of the financial services provider’s stock after selling 1,343 shares during the period. PGGM Investments owned 0.07% of Ameriprise Financial Services worth $13,837,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Ameriprise Financial Services 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in Ameriprise Financial Services 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Ameriprise Financial Services 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 in the last quarter. FMR LLC boosted its stake in Ameriprise Financial Services by 115.7% in the first quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock worth $119,130,000 after buying an additional 492,785 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Ameriprise Financial Services by 16.9% in the first quarter. Wells Fargo & Company MN now owns 2,104,154 shares of the financial services provider’s stock worth $272,867,000 after buying an additional 304,379 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.
Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 138.74 on Friday. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 15.89 and a beta of 1.86. Ameriprise Financial Services, Inc. has a 12 month low of $86.25 and a 12 month high of $149.99. The firm’s 50 day moving average price is $138.96 and its 200 day moving average price is $130.19.
Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The company’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 earnings per share. On average, equities research analysts predict that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.
Ameriprise Financial Services announced that its board has initiated a stock repurchase program on Monday, April 24th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio is presently 37.81%.
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A number of research analysts have recently weighed in on AMP shares. Barclays PLC restated an “equal weight” rating and set a $130.00 price objective (up previously from $127.00) on shares of Ameriprise Financial Services in a research report on Tuesday, April 25th. Morgan Stanley raised their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. SunTrust Banks, Inc. restated a “hold” rating and set a $127.00 price objective (up previously from $124.00) on shares of Ameriprise Financial Services in a research report on Wednesday, April 26th. Zacks Investment Research lowered Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Deutsche Bank AG restated a “hold” rating and set a $140.00 price objective (up previously from $137.00) on shares of Ameriprise Financial Services in a research report on Thursday, April 20th. 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 issued a strong buy rating to the company. Ameriprise Financial Services currently has an average rating of “Buy” and a consensus target price of $146.98.
In related news, VP Kelli A. Hunter sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $144.59, for a total transaction of $216,885.00. Following the completion of the transaction, the vice president now owns 27,356 shares of the company’s stock, valued at $3,955,404.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James M. Cracchiolo sold 97,545 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total transaction of $14,111,835.15. Following the transaction, the chairman now directly owns 474,139 shares of the company’s stock, valued at approximately $68,593,689.13. The disclosure for this sale can be found here. In the last three months, insiders sold 185,966 shares of company stock valued at $26,868,153. Company insiders own 1.50% of the company’s stock.
About Ameriprise Financial Services
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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