Cipher Capital LP bought a new stake in Ameriprise Financial Services, Inc. (NYSE:AMP) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 48,819 shares of the financial services provider’s stock, valued at approximately $6,214,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Delta Lloyd Asset Management N.V. acquired a new position in Ameriprise Financial Services during the second quarter valued at $2,535,000. Eagle Asset Management Inc. raised its position in Ameriprise Financial Services by 18.3% in the second quarter. Eagle Asset Management Inc. now owns 414,161 shares of the financial services provider’s stock valued at $52,718,000 after buying an additional 64,003 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Ameriprise Financial Services by 1.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,964 shares of the financial services provider’s stock valued at $250,000 after buying an additional 33 shares in the last quarter. Chicago Equity Partners LLC raised its position in Ameriprise Financial Services by 646.6% in the second quarter. Chicago Equity Partners LLC now owns 58,385 shares of the financial services provider’s stock valued at $7,432,000 after buying an additional 50,565 shares in the last quarter. Finally, Atwood & Palmer Inc. raised its position in Ameriprise Financial Services by 1.7% in the second quarter. Atwood & Palmer Inc. now owns 142,361 shares of the financial services provider’s stock valued at $18,121,000 after buying an additional 2,345 shares in the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 139.28 on Friday. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 15.95 and a beta of 1.86. The stock has a 50 day moving average price of $140.85 and a 200-day moving average price of $131.53. Ameriprise Financial Services, Inc. has a one year low of $86.25 and a one year high of $149.99.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion for 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 quarter in the prior year, the firm earned $2.23 EPS. On average, equities research analysts expect that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.40%. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 37.81%.

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Several research firms have weighed in on AMP. Zacks Investment Research lowered Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub lowered Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Barclays PLC lifted their target price on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Citigroup Inc. set a $166.00 target price on Ameriprise Financial Services and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada set a $149.00 target price on Ameriprise Financial Services and gave the stock a “sector perform” rating in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $146.98.

In other news, CEO William F. Truscott sold 19,768 shares of the 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 transaction, the chief executive officer now owns 70,693 shares of the company’s stock, valued at approximately $10,210,189.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kelli A. Hunter sold 1,500 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $144.59, for a total transaction of $216,885.00. Following the transaction, the vice president now directly owns 27,356 shares in the company, valued at approximately $3,955,404.04. 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 three months. Insiders own 1.50% of the company’s stock.

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.

Institutional Ownership by Quarter for Ameriprise Financial Services (NYSE:AMP)

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