Knights of Columbus Asset Advisors LLC decreased its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,734 shares of the financial services provider’s stock after selling 1,866 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Ameriprise Financial Services were worth $1,621,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Ameriprise Financial Services by 0.7% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the last quarter. Parallel Advisors LLC increased its position in Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after buying an additional 116 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in Ameriprise Financial Services during the first quarter valued at $124,000. State of Alaska Department of Revenue acquired a new position in Ameriprise Financial Services during the first quarter valued at $125,000. Finally, Meeder Asset Management Inc. acquired a new position in Ameriprise Financial Services during the first quarter valued at $149,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.
Shares of Ameriprise Financial Services, Inc. (NYSE AMP) traded up 0.15% during mid-day trading on Friday, hitting $138.61. 1,730,459 shares of the stock traded hands. The company’s 50-day moving average price is $140.24 and its 200 day moving average price is $131.11. The company has a market capitalization of $20.78 billion, a PE ratio of 15.88 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.
Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 earnings per share. Equities research analysts forecast that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a $0.83 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.32 annualized dividend and a dividend yield of 2.40%. Ameriprise Financial Services’s dividend payout ratio is currently 37.81%.
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Several research firms have weighed in on AMP. BidaskClub upgraded shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Morgan Stanley upped their price objective on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Royal Bank Of Canada began coverage on shares of Ameriprise Financial Services in a report on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price objective on the stock. Zacks Investment Research upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective on the stock in a report on Thursday, July 27th. Finally, Barclays PLC upped their price objective on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Ameriprise Financial Services currently has a consensus rating of “Hold” and a consensus target price of $146.98.
In related news, insider David Kent Stewart sold 4,945 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randy Kupper sold 2,987 shares of the firm’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 sale, the executive vice president now owns 30,969 shares of the company’s stock, valued at approximately $4,033,402.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,966 shares of company stock valued at $26,868,153. 1.50% of the stock is currently owned by corporate insiders.
Ameriprise Financial Services 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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