Great Lakes Advisors LLC Has $66.29 Million Position in Ameriprise Financial Services, Inc. (AMP)
Great Lakes Advisors LLC decreased its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,760 shares of the financial services provider’s stock after selling 25,282 shares during the period. Ameriprise Financial Services comprises 1.6% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 14th largest position. Great Lakes Advisors LLC owned 0.35% of Ameriprise Financial Services worth $66,287,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after buying an additional 116 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Ameriprise Financial Services by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock worth $108,000 after buying an additional 4 shares during the period. Dubuque Bank & Trust Co. increased its position in Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock worth $124,000 after buying an additional 22 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in Ameriprise Financial Services during the first quarter worth about $124,000. Finally, State of Alaska Department of Revenue bought a new position in Ameriprise Financial Services during the first quarter worth about $125,000. Institutional investors and hedge funds own 82.01% of the company’s stock.
Shares of Ameriprise Financial Services, Inc. (AMP) traded up 0.51% during trading on Friday, hitting $139.11. The stock had a trading volume of 91,410 shares. Ameriprise Financial Services, Inc. has a 52-week low of $86.25 and a 52-week high of $149.99. The stock has a 50 day moving average of $139.98 and a 200 day moving average of $131.01. The firm has a market cap of $20.86 billion, a PE ratio of 15.93 and a beta of 1.86.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results 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. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted $2.23 EPS. Ameriprise Financial Services’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current 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 dividend of $0.83 per share. The ex-dividend date was Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 2.40%. Ameriprise Financial Services’s payout ratio is 37.81%.
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A number of research firms have issued reports on AMP. 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. Barclays PLC lifted their price target on 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. BidaskClub upgraded Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Royal Bank Of Canada began coverage on Ameriprise Financial Services in a research note on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price target for the company. Finally, 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. One investment 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 company presently has an average rating of “Hold” and a consensus target price of $146.98.
In other news, Chairman James M. Cracchiolo sold 39,450 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total value of $5,700,525.00. Following the sale, the chairman now directly owns 260,887 shares of the company’s stock, valued at approximately $37,698,171.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Randy Kupper sold 2,987 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 30,969 shares in the company, valued at $4,033,402.56. The disclosure for this sale can be found here. Insiders have sold a total of 185,966 shares of company stock worth $26,868,153 in the last 90 days. 1.50% of the stock is currently owned by company insiders.
Ameriprise Financial Services 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.
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