Ameriprise Financial Services Inc. (AMP) Shares Sold by British Columbia Investment Management Corp
British Columbia Investment Management Corp reduced its stake in Ameriprise Financial Services Inc. (NYSE:AMP) by 7.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 112,270 shares of the company’s stock after selling 9,370 shares during the period. British Columbia Investment Management Corp owned approximately 0.07% of Ameriprise Financial Services worth $11,201,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Euclid Advisors LLC purchased a new position in Ameriprise Financial Services during the second quarter valued at $103,000. Fuller & Thaler Asset Management Inc. purchased a new position in Ameriprise Financial Services during the second quarter worth approximately $108,000. Tower Research Capital LLC TRC purchased a new position in Ameriprise Financial Services during the second quarter worth approximately $160,000. Bessemer Group Inc. boosted its position in Ameriprise Financial Services by 65.0% in the second quarter. Bessemer Group Inc. now owns 1,840 shares of the company’s stock worth $166,000 after buying an additional 725 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in Ameriprise Financial Services during the second quarter worth approximately $210,000. 79.37% of the stock is currently owned by hedge funds and other institutional investors.
Ameriprise Financial Services Inc. (NYSE:AMP) traded up 0.68% during mid-day trading on Friday, hitting $114.46. 338,037 shares of the stock were exchanged. Ameriprise Financial Services Inc. has a 52 week low of $76.00 and a 52 week high of $115.50. The company’s 50-day moving average price is $100.54 and its 200 day moving average price is $98.04. The firm has a market capitalization of $18.09 billion, a price-to-earnings ratio of 15.52 and a beta of 1.67.
Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by $0.13. The company earned $3 billion during the quarter, compared to the consensus estimate of $2.86 billion. Ameriprise Financial Services had a net margin of 10.83% and a return on equity of 21.48%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 earnings per share. Equities research analysts expect that Ameriprise Financial Services Inc. will post $8.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a $0.75 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $3.00 dividend on an annualized basis and a yield of 2.62%. Ameriprise Financial Services’s dividend payout ratio is currently 40.76%.
AMP has been the topic of a number of research analyst reports. Zacks Investment Research cut Ameriprise Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Oppenheimer Holdings Inc. cut Ameriprise Financial Services to an “underweight” rating in a research note on Monday, October 10th. Deutsche Bank AG cut Ameriprise Financial Services from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research note on Friday, October 14th. Finally, Credit Suisse Group AG initiated coverage on Ameriprise Financial Services in a research note on Friday, October 7th. They issued a “neutral” rating and a $116.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $111.33.
In other Ameriprise Financial Services news, VP John Carl Junek sold 4,683 shares of Ameriprise Financial Services stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $100.30, for a total value of $469,704.90. Following the sale, the vice president now directly owns 37,766 shares in the company, valued at approximately $3,787,929.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Randy Kupper sold 4,129 shares of Ameriprise Financial Services stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $100.81, for a total transaction of $416,244.49. Following the completion of the sale, the executive vice president now owns 22,835 shares in the company, valued at $2,301,996.35. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
About Ameriprise Financial Services
Ameriprise Financial, Inc is a diversified 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 Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors.
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