Ameriprise Financial Services, Inc. (AMP) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. grew its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 16.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 570,473 shares of the financial services provider’s stock after acquiring an additional 80,220 shares during the period. Prudential Financial Inc. owned 0.38% of Ameriprise Financial Services worth $84,721,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Montecito Bank & Trust grew its stake in Ameriprise Financial Services by 19.5% in the 3rd quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 399 shares in the last quarter. Principal Financial Group Inc. grew its stake in Ameriprise Financial Services by 109.3% in the 2nd quarter. Principal Financial Group Inc. now owns 508,733 shares of the financial services provider’s stock worth $64,757,000 after acquiring an additional 265,632 shares in the last quarter. Intrust Bank NA grew its stake in Ameriprise Financial Services by 0.7% in the 2nd quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 12 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Ameriprise Financial Services in the 2nd quarter worth about $25,127,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Ameriprise Financial Services by 100.0% during the second quarter. First Eagle Investment Management LLC now owns 21,324 shares of the financial services provider’s stock valued at $2,714,000 after purchasing an additional 10,662 shares in the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.
Ameriprise Financial Services, Inc. (NYSE AMP) traded up $0.28 during trading hours on Wednesday, reaching $159.51. 112,284 shares of the company were exchanged, compared to its average volume of 822,152. Ameriprise Financial Services, Inc. has a 12 month low of $89.55 and a 12 month high of $163.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $23,764.95, a PE ratio of 13.66 and a beta of 1.92.
Ameriprise Financial Services (NYSE:AMP) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, beating the Zacks’ consensus estimate of $2.79 by $0.33. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.75%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. Ameriprise Financial Services’s revenue for the quarter was up 6.3% compared to the same quarter last year. equities analysts anticipate that Ameriprise Financial Services, Inc. will post 12.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, November 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 2.08%. Ameriprise Financial Services’s payout ratio is 30.97%.
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A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada set a $155.00 price objective on shares of Ameriprise Financial Services and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. SunTrust Banks, Inc. increased their price objective on shares of Ameriprise Financial Services from $140.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Morgan Stanley increased their price objective on shares of Ameriprise Financial Services from $152.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research note on Thursday, October 5th. Finally, Barclays PLC reiterated an “equal weight” rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $154.20.
In other Ameriprise Financial Services news, EVP Colin Moore sold 4,285 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $161.09, for a total value of $690,270.65. Following the completion of the transaction, the executive vice president now owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Charles Neal Maglaque sold 1,754 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $161.01, for a total transaction of $282,411.54. Following the completion of the transaction, the chief operating officer now directly owns 14,697 shares of the company’s stock, valued at approximately $2,366,363.97. The disclosure for this sale can be found here. Insiders have sold 56,136 shares of company stock valued at $8,360,698 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
Ameriprise Financial Services 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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