Ameriprise Financial Services, Inc. (AMP) Stake Decreased by Balyasny Asset Management LLC

Balyasny Asset Management LLC trimmed its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 82.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 28,628 shares of the financial services provider’s stock after selling 135,153 shares during the quarter. Balyasny Asset Management LLC’s holdings in Ameriprise Financial Services were worth $3,644,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMP. Principal Financial Group Inc. increased its holdings in Ameriprise Financial Services by 109.3% in the 2nd quarter. Principal Financial Group Inc. now owns 508,733 shares of the financial services provider’s stock worth $64,757,000 after purchasing an additional 265,632 shares in the last quarter. Intrust Bank NA increased its holdings in Ameriprise Financial Services by 0.7% in the 2nd quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 12 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Ameriprise Financial Services by 100.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 21,324 shares of the financial services provider’s stock worth $2,714,000 after purchasing an additional 10,662 shares in the last quarter. Airain ltd acquired a new position in Ameriprise Financial Services in the 2nd quarter worth about $1,184,000. Finally, Keybank National Association OH increased its holdings in Ameriprise Financial Services by 63.0% in the 2nd quarter. Keybank National Association OH now owns 75,508 shares of the financial services provider’s stock worth $9,612,000 after purchasing an additional 29,176 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

AMP has been the subject of a number of recent research reports. Citigroup Inc. set a $166.00 target price on Ameriprise Financial Services and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Morgan Stanley upped their target price on Ameriprise Financial Services from $152.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Zacks Investment Research cut Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Friday, September 15th. BidaskClub raised Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, Barclays PLC upped their target price on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $149.31.

In other news, Chairman James M. Cracchiolo sold 39,450 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total value of $5,700,525.00. Following the completion of the sale, the chairman now owns 260,887 shares of the company’s stock, valued at approximately $37,698,171.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman James M. Cracchiolo sold 97,545 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $144.67, for a total value of $14,111,835.15. Following the completion of the sale, 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 182,979 shares of company stock valued at $26,479,126. 1.50% of the stock is currently owned by corporate insiders.

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 151.25 on Wednesday. The firm has a market cap of $22.68 billion, a PE ratio of 17.32 and a beta of 1.88. Ameriprise Financial Services, Inc. has a 52 week low of $86.25 and a 52 week high of $151.98. The stock has a 50 day moving average price of $141.80 and a 200 day moving average price of $133.97.

Ameriprise Financial Services (NYSE:AMP) last released its earnings results 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. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the company posted $2.23 EPS. Ameriprise Financial Services’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Ameriprise Financial Services, Inc. will post $11.28 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Ameriprise Financial Services (NYSE:AMP)

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