Groesbeck Investment Management Corp NJ continued to hold its position in Ameriprise Financial Services, Inc. (NYSE:AMP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,900 shares of the financial services provider’s stock at the end of the second quarter. Groesbeck Investment Management Corp NJ’s holdings in Ameriprise Financial Services were worth $242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Ameriprise Financial Services 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 during the period. BlackRock Inc. boosted its position in 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 valued at $1,379,836,000 after buying an additional 10,052,130 shares during the period. JPMorgan Chase & Co. boosted its position in 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 position in 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. Finally, Aristotle Capital Management LLC boosted its position in Ameriprise Financial Services 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 during the period. Institutional investors and hedge funds own 82.01% of the company’s stock.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) opened at 138.80 on Monday. The company has a 50 day moving average of $139.27 and a 200 day moving average of $130.37. Ameriprise Financial Services, Inc. has a 12 month low of $86.25 and a 12 month high of $149.99. The stock has a market cap of $20.81 billion, a P/E ratio of 15.90 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. The firm 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 for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. Equities research analysts expect that Ameriprise Financial Services, Inc. will post $11.30 earnings per share for the current fiscal year.

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

Ameriprise Financial Services announced that its Board of Directors has approved a share buyback program on Monday, April 24th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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Several research analysts have recently issued reports on AMP shares. Citigroup Inc. set a $166.00 price objective on shares of Ameriprise Financial Services and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub raised shares of Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Barclays PLC increased their target price on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $127.00 target price (up from $124.00) on shares of Ameriprise Financial Services in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Ameriprise Financial Services currently has a consensus rating of “Hold” and a consensus price target of $146.98.

In other Ameriprise Financial Services news, VP Kelli A. Hunter sold 1,500 shares of Ameriprise Financial Services 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 transaction, the vice president now owns 27,356 shares of the company’s stock, valued at $3,955,404.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Randy Kupper sold 2,987 shares of Ameriprise Financial Services stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $130.24, for a total transaction 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 approximately $4,033,402.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,966 shares of company stock worth $26,868,153. 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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