Aviance Capital Partners LLC continued to hold its stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,740 shares of the financial services provider’s stock at the end of the second quarter. Aviance Capital Partners LLC’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $985,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AMP. Vanguard Group Inc. boosted its stake in 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 in the last quarter. BlackRock Inc. boosted its stake in 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 in the last quarter. JPMorgan Chase & Co. boosted its position in 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 in the last quarter. Bank of New York Mellon Corp boosted its position in 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 in the last quarter. Finally, Aristotle Capital Management LLC boosted its position in 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 in 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) traded up 1.03% during trading on Tuesday, hitting $148.80. The stock had a trading volume of 943,271 shares. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 17.04 and a beta of 1.86. The firm’s 50-day moving average is $134.69 and its 200 day moving average is $128.19. AMERIPRISE FINANCIAL SERVICES, INC. has a 52-week low of $86.25 and a 52-week high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business 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 business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.23 earnings per share. On average, analysts expect that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a $0.83 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.23%. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is presently 37.81%.

AMERIPRISE FINANCIAL SERVICES, INC. declared that its Board of Directors has authorized a stock repurchase program on Monday, April 24th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/08/08/aviance-capital-partners-llc-has-985000-position-in-ameriprise-financial-services-inc-amp-updated.html.

Several equities analysts have weighed in on AMP shares. Citigroup Inc. set a $166.00 price target on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 price target for the company in a report on Thursday, July 27th. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Barclays PLC restated an “equal weight” rating and set a $130.00 price target (up previously from $127.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Tuesday, April 25th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $127.00 price target (up previously from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $145.64.

In related news, EVP Randy Kupper sold 2,987 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $130.24, for a total value of $389,026.88. Following the completion of the transaction, the executive vice president now directly owns 30,969 shares in the company, valued at $4,033,402.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 19,768 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $144.43, for a total value of $2,855,092.24. Following the completion of the transaction, the chief executive officer now owns 70,693 shares of the company’s stock, valued at $10,210,189.99. The disclosure for this sale can be found here. Insiders sold 144,891 shares of company stock valued at $20,931,867 over the last 90 days. 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.

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

Receive News & Stock Ratings for AMERIPRISE FINANCIAL SERVICES INC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMERIPRISE FINANCIAL SERVICES INC. and related stocks with our FREE daily email newsletter.