Peddock Capital Advisors LLC boosted its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 5.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,710 shares of the financial services provider’s stock after buying an additional 258 shares during the period. Peddock Capital Advisors LLC’s holdings in Ameriprise Financial Services were worth $600,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMP. BlackRock Inc. boosted its stake in shares of Ameriprise Financial Services by 1,709.0% in the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock worth $1,379,836,000 after buying an additional 10,052,130 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial Services 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 during the period. Bank of New York Mellon Corp boosted its stake in shares of Ameriprise Financial Services 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 during the period. FMR LLC boosted its stake in shares of Ameriprise Financial Services by 115.7% in the first quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock valued at $119,130,000 after buying an additional 492,785 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Ameriprise Financial Services by 16.9% in the first quarter. Wells Fargo & Company MN now owns 2,104,154 shares of the financial services provider’s stock valued at $272,867,000 after buying an additional 304,379 shares during the period. Institutional investors own 82.01% of the company’s stock.

Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 138.80 on Monday. Ameriprise Financial Services, Inc. has a 12 month low of $86.25 and a 12 month high of $149.99. The firm has a market capitalization of $20.81 billion, a P/E ratio of 15.90 and a beta of 1.86. The firm’s 50-day moving average is $139.27 and its 200 day moving average is $130.37.

Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.

Ameriprise Financial Services declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 24th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio is currently 37.81%.

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Several equities research analysts recently issued reports on the company. BidaskClub upgraded Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Citigroup Inc. set a $166.00 price target on Ameriprise Financial Services and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price target for the company in a research note on Thursday, July 27th. Royal Bank Of Canada set a $149.00 price target on Ameriprise Financial Services and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Finally, Morgan Stanley boosted their price target on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $146.98.

In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 97,545 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $144.67, for a total value of $14,111,835.15. Following the transaction, the chairman now owns 474,139 shares in the company, valued at $68,593,689.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 19,768 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the completion of the transaction, the chief executive officer now owns 70,693 shares in the company, valued at approximately $10,210,189.99. The disclosure for this sale can be found here. Insiders have sold a total of 185,966 shares of company stock valued at $26,868,153 over the last ninety days. 1.50% of the stock is currently owned by insiders.

About Ameriprise Financial Services

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 (NYSE:AMP)

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