Poplar Forest Capital LLC held its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,000 shares of the financial services provider’s stock at the end of the second quarter. Poplar Forest Capital LLC’s holdings in Ameriprise Financial Services were worth $382,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Laurion Capital Management LP bought a new position in shares of Ameriprise Financial Services in the 2nd quarter worth approximately $7,901,000. Stevens Capital Management LP lifted its stake in shares of Ameriprise Financial Services by 566.3% in the 2nd quarter. Stevens Capital Management LP now owns 38,377 shares of the financial services provider’s stock worth $4,885,000 after purchasing an additional 32,617 shares during the period. BlueMountain Capital Management LLC lifted its stake in shares of Ameriprise Financial Services by 1,295.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 17,902 shares of the financial services provider’s stock worth $2,279,000 after purchasing an additional 16,619 shares during the period. Amalgamated Bank lifted its stake in shares of Ameriprise Financial Services by 65.2% in the 2nd quarter. Amalgamated Bank now owns 18,357 shares of the financial services provider’s stock worth $2,337,000 after purchasing an additional 7,247 shares during the period. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Ameriprise Financial Services in the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 79.55% of the company’s stock.

In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 97,545 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total value of $14,111,835.15. Following the sale, the chairman now owns 474,139 shares in the company, valued at approximately $68,593,689.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Randy Kupper sold 2,987 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $130.24, for a total value of $389,026.88. Following the completion of the sale, the executive vice president now 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 90 days, insiders sold 185,966 shares of company stock worth $26,868,153. Insiders own 1.50% of the company’s stock.

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Ameriprise Financial Services, Inc. (AMP) traded up 0.61% during midday trading on Friday, reaching $139.86. 1,808,220 shares of the company’s stock were exchanged. Ameriprise Financial Services, Inc. has a 52 week low of $86.25 and a 52 week high of $149.99. The firm’s 50 day moving average is $140.74 and its 200 day moving average is $132.04. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 16.02 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. 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 firm posted $2.23 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Ameriprise Financial Services, Inc. will post $11.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a $0.83 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.37%. Ameriprise Financial Services’s dividend payout ratio is presently 37.81%.

Several brokerages have recently weighed in on AMP. BidaskClub upgraded shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Morgan Stanley increased their price objective on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Friday, September 1st. Royal Bank Of Canada began coverage on shares of Ameriprise Financial Services in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 price objective on the stock. Finally, Barclays PLC increased their price objective on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $146.87.

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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