Palisade Asset Management LLC Has $430,000 Stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

Palisade Asset Management LLC continued to hold its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,380 shares of the financial services provider’s stock at the end of the second quarter. Palisade Asset Management LLC’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $430,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 2.0% in the first quarter. Vanguard Group Inc. now owns 12,404,472 shares of the financial services provider’s stock valued at $1,608,613,000 after buying an additional 242,577 shares during the last quarter. BlackRock Inc. increased its position 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 valued at $1,379,836,000 after buying an additional 10,052,130 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 valued at $770,216,000 after buying an additional 2,481,827 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $506,651,000 after buying an additional 1,380,098 shares during the last quarter. Finally, Aristotle Capital Management LLC increased its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.3% in the first quarter. Aristotle Capital Management LLC now owns 2,360,259 shares of the financial services provider’s stock valued at $306,078,000 after buying an additional 6,399 shares during the last quarter. 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 market capitalization of $22.24 billion, a PE ratio of 16.95 and a beta of 1.86. The stock has a 50 day moving average price of $136.14 and a 200 day moving average price of $129.06. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $86.25 and a 1-year high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business posted $2.23 EPS. The business’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 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend 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 currently 37.81%.

AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has approved a stock buyback plan on Monday, April 24th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several equities analysts have issued reports on AMP shares. Citigroup Inc. set a $166.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $127.00 price objective (up previously from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada set a $149.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $145.64.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, VP Kelli A. Hunter sold 1,500 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $144.59, for a total transaction of $216,885.00. Following the completion of the sale, the vice president now directly owns 27,356 shares in the company, valued at approximately $3,955,404.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles Neal Maglaque sold 4,728 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.57, for a total value of $683,526.96. Following the sale, the insider now owns 24,901 shares of the company’s stock, valued at $3,599,937.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,891 shares of company stock valued at $20,931,867. Company insiders own 1.50% 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.

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Institutional Ownership by Quarter for AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

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