BNP Paribas Arbitrage SA reduced its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 21.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 89,168 shares of the financial services provider’s stock after selling 23,878 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of Ameriprise Financial Services worth $11,350,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. American Assets Investment Management LLC boosted its position in shares of Ameriprise Financial Services by 4.1% in the second quarter. American Assets Investment Management LLC now owns 25,640 shares of the financial services provider’s stock valued at $3,264,000 after buying an additional 1,000 shares during the period. Legal & General Group Plc boosted its position in shares of Ameriprise Financial Services by 3.2% in the second quarter. Legal & General Group Plc now owns 770,509 shares of the financial services provider’s stock valued at $98,081,000 after buying an additional 23,699 shares during the period. Alps Advisors Inc. bought a new position in shares of Ameriprise Financial Services during the second quarter valued at about $358,000. State of Wisconsin Investment Board boosted its position in shares of Ameriprise Financial Services by 30.7% in the second quarter. State of Wisconsin Investment Board now owns 187,314 shares of the financial services provider’s stock valued at $23,843,000 after buying an additional 43,970 shares during the period. Finally, LMR Partners LLP boosted its position in shares of Ameriprise Financial Services by 139.2% in the second quarter. LMR Partners LLP now owns 5,031 shares of the financial services provider’s stock valued at $641,000 after buying an additional 2,928 shares during the period. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Shares of Ameriprise Financial Services, Inc. (AMP) opened at 138.80 on Monday. Ameriprise Financial Services, Inc. has a 52 week low of $86.25 and a 52 week high of $149.99. The stock’s 50 day moving average price is $139.27 and its 200 day moving average price is $130.37. The stock has a market cap of $20.81 billion, a price-to-earnings ratio of 15.90 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $2.23 earnings per share. Equities research analysts anticipate that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.

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 $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 37.81%.

Ameriprise Financial Services announced that its Board of Directors has authorized a share buyback program on Monday, April 24th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of brokerages have weighed in on AMP. BidaskClub raised Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective on the stock in a report on Thursday, July 27th. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the company a “sector perform” rating in a report on Wednesday, July 26th. Finally, Morgan Stanley lifted their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $146.98.

In related news, VP Kelli A. Hunter sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $144.59, for a total transaction of $216,885.00. Following the completion of the sale, the vice president now directly owns 27,356 shares in the company, valued at $3,955,404.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Neal Maglaque sold 4,728 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $144.57, for a total transaction of $683,526.96. Following the sale, the insider now owns 24,901 shares of the company’s stock, valued at $3,599,937.57. The disclosure for this sale can be found here. Insiders sold 185,966 shares of company stock valued at $26,868,153 over the last quarter. Insiders own 1.50% of the company’s stock.

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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