Meeder Asset Management Inc. raised its stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 2,255.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,996 shares of the financial services provider’s stock after buying an additional 25,850 shares during the period. Meeder Asset Management Inc.’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $3,436,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Leavell Investment Management Inc. increased its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 3.4% in the second quarter. Leavell Investment Management Inc. now owns 3,007 shares of the financial services provider’s stock valued at $383,000 after buying an additional 100 shares during the period. National Pension Service increased its position in AMERIPRISE FINANCIAL SERVICES, INC. by 15.8% in the second quarter. National Pension Service now owns 159,408 shares of the financial services provider’s stock worth $20,407,000 after buying an additional 21,790 shares during the last quarter. State of Alaska Department of Revenue increased its position in AMERIPRISE FINANCIAL SERVICES, INC. by 89.2% in the second quarter. State of Alaska Department of Revenue now owns 1,824 shares of the financial services provider’s stock worth $232,000 after buying an additional 860 shares during the last quarter. Creative Planning increased its position in AMERIPRISE FINANCIAL SERVICES, INC. by 1.8% in the second quarter. Creative Planning now owns 6,098 shares of the financial services provider’s stock worth $776,000 after buying an additional 107 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in AMERIPRISE FINANCIAL SERVICES, INC. by 1.2% in the second quarter. Trust Co. of Vermont now owns 3,065 shares of the financial services provider’s stock worth $390,000 after buying an additional 35 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) opened at 147.29 on Tuesday. The firm has a market capitalization of $22.14 billion, a PE ratio of 16.87 and a beta of 1.86. The stock has a 50 day moving average price of $133.12 and a 200-day moving average price of $127.79. AMERIPRISE FINANCIAL SERVICES, INC. has a 52-week low of $86.25 and a 52-week high of $148.51.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. Equities analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 EPS for the current year.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is currently 37.81%.

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AMP has been the subject of a number of research reports. Citigroup Inc. set a $166.00 price objective on AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub upgraded AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “strong-buy” rating in a report on Friday. SunTrust Banks, Inc. reissued a “hold” rating and set a $127.00 price target (up 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 target on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $145.64.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, VP Kelli A. Hunter sold 1,500 shares of AMERIPRISE FINANCIAL SERVICES, INC. stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $144.59, for a total value of $216,885.00. Following the completion of the sale, the vice president now owns 27,356 shares of the company’s stock, valued at approximately $3,955,404.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles Neal Maglaque sold 4,728 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $144.57, for a total transaction of $683,526.96. Following the sale, the insider now directly owns 24,901 shares of the company’s stock, valued at approximately $3,599,937.57. The disclosure for this sale can be found here. Insiders have sold 144,891 shares of company stock valued at $20,931,867 in the last three months. 1.50% of the stock is owned by insiders.

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)

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