AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) Stake Held by Bp Plc

Bp Plc continued to hold its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) during the second quarter, Holdings Channel reports. The fund owned 20,000 shares of the financial services provider’s stock at the end of the second quarter. Bp Plc’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $2,546,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in AMERIPRISE FINANCIAL SERVICES, INC. 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 period. Dubuque Bank & Trust Co. raised its position in AMERIPRISE FINANCIAL SERVICES, INC. by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock valued at $124,000 after buying an additional 22 shares during the period. Mckinley Capital Management LLC Delaware acquired a new position in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at $124,000. State of Alaska Department of Revenue acquired a new position in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at $125,000. Finally, Meeder Asset Management Inc. acquired a new position in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at $149,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

AMERIPRISE FINANCIAL SERVICES, INC. (AMP) opened at 143.79 on Friday. AMERIPRISE FINANCIAL SERVICES, INC. has a one year low of $86.25 and a one year high of $149.99. The firm has a 50 day moving average of $136.59 and a 200 day moving average of $129.16. The firm has a market capitalization of $21.56 billion, a PE ratio of 16.47 and a beta of 1.86.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a return on equity of 26.54% and a net margin of 11.81%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 EPS. Equities analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, August 3rd. This represents a $3.32 annualized dividend and a dividend yield of 2.31%. AMERIPRISE FINANCIAL SERVICES, INC.’s payout ratio is currently 37.81%.

AMERIPRISE FINANCIAL SERVICES, INC. declared that its board has initiated a stock buyback program on Monday, April 24th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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Several research firms have recently weighed in on AMP. 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, INC. in a research report on Thursday, April 20th. BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. 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, INC. in a research report on Tuesday, April 25th. Morgan Stanley raised their price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada began coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price objective for the company. 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 given a strong buy rating to the company’s stock. AMERIPRISE FINANCIAL SERVICES, INC. presently has an average rating of “Buy” and an average target price of $145.64.

In other news, Chairman James M. Cracchiolo sold 13,418 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $146.25, for a total transaction of $1,962,382.50. Following the completion of the transaction, the chairman now directly owns 283,891 shares in the company, valued at approximately $41,519,058.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Neal Maglaque sold 4,728 shares of the business’s 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 transaction, 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. Insiders have sold a total of 144,891 shares of company stock valued at $20,931,867 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

About AMERIPRISE FINANCIAL SERVICES, INC.

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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