US Bancorp DE Reduces Position in Ameriprise Financial Services Inc. (AMP)
US Bancorp DE lowered its position in shares of Ameriprise Financial Services Inc. (NYSE:AMP) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,193 shares of the company’s stock after selling 4,897 shares during the period. US Bancorp DE owned approximately 0.09% of Ameriprise Financial Services worth $13,488,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Ameriprise Financial Services by 6.4% in the second quarter. Vanguard Group Inc. now owns 12,256,414 shares of the company’s stock worth $1,101,239,000 after buying an additional 731,863 shares during the last quarter. LSV Asset Management boosted its stake in shares of Ameriprise Financial Services by 2.0% in the second quarter. LSV Asset Management now owns 2,719,696 shares of the company’s stock worth $244,364,000 after buying an additional 54,426 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Ameriprise Financial Services by 0.3% in the second quarter. BlackRock Fund Advisors now owns 2,688,061 shares of the company’s stock worth $241,522,000 after buying an additional 7,051 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Ameriprise Financial Services during the second quarter worth approximately $236,917,000. Finally, Aristotle Capital Management LLC bought a new stake in shares of Ameriprise Financial Services during the second quarter worth approximately $203,871,000. Institutional investors own 77.75% of the company’s stock.
Ameriprise Financial Services Inc. (NYSE:AMP) traded down 0.03% during midday trading on Tuesday, hitting $112.47. The stock had a trading volume of 473,844 shares. Ameriprise Financial Services Inc. has a 12-month low of $76.00 and a 12-month high of $115.50. The firm has a 50-day moving average of $100.87 and a 200-day moving average of $98.20. The company has a market cap of $17.78 billion, a PE ratio of 15.25 and a beta of 1.67.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $2.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by $0.13. The company earned $3 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $2.35 EPS. Equities research analysts forecast that Ameriprise Financial Services Inc. will post $8.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $3.00 annualized dividend and a dividend yield of 2.62%. Ameriprise Financial Services’s dividend payout ratio is presently 40.76%.
A number of brokerages have commented on AMP. Credit Suisse Group AG began coverage on Ameriprise Financial Services in a research report on Friday, October 7th. They issued a “neutral” rating and a $116.00 price target for the company. Zacks Investment Research upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Deutsche Bank AG cut Ameriprise Financial Services from a “buy” rating to a “hold” rating and set a $112.00 price target for the company. in a research report on Friday, October 14th. Finally, Oppenheimer Holdings Inc. cut Ameriprise Financial Services to an “underweight” rating in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Ameriprise Financial Services has an average rating of “Hold” and a consensus price target of $111.33.
In related news, EVP Randy Kupper sold 4,129 shares of Ameriprise Financial Services stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $100.81, for a total value of $416,244.49. Following the completion of the transaction, the executive vice president now owns 22,835 shares in the company, valued at approximately $2,301,996.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John Carl Junek sold 4,683 shares of Ameriprise Financial Services stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $100.30, for a total value of $469,704.90. Following the completion of the transaction, the vice president now owns 37,766 shares of the company’s stock, valued at approximately $3,787,929.80. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Ameriprise Financial Services Company Profile
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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