HighPoint Advisor Group LLC trimmed its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,582 shares of the financial services provider’s stock after selling 468 shares during the period. HighPoint Advisor Group LLC’s holdings in Ameriprise Financial Services were worth $736,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in shares of Ameriprise Financial Services by 284.0% during the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 230 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Ameriprise Financial Services by 17.5% during the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 116 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in shares of Ameriprise Financial Services by 0.7% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares in the last quarter. Sun Life Financial INC lifted its position in shares of Ameriprise Financial Services by 10,100.0% during the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its position in shares of Ameriprise Financial Services by 3.3% during the second quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 81.45% of the company’s stock.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) traded up $0.10 during midday trading on Tuesday, reaching $157.32. 580,400 shares of the company traded hands, compared to its average volume of 1,044,116. Ameriprise Financial Services, Inc. has a fifty-two week low of $109.19 and a fifty-two week 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 firm has a market capitalization of $23,257.55, a price-to-earnings ratio of 13.37 and a beta of 1.92.

Ameriprise Financial Services (NYSE:AMP) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. equities research 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. Shareholders of record on Monday, November 6th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, November 3rd. Ameriprise Financial Services’s payout ratio is presently 30.97%.

In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 42,228 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the completion of the sale, the chairman now owns 242,013 shares of the company’s stock, valued at $38,559,931.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James M. Cracchiolo sold 39,450 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total transaction of $5,700,525.00. Following the completion of the sale, the chairman now directly owns 260,887 shares of the company’s stock, valued at approximately $37,698,171.50. The disclosure for this sale can be found here. Insiders sold 99,167 shares of company stock valued at $15,244,202 in the last ninety days. Insiders own 1.50% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. SunTrust Banks, Inc. upped their target price on shares of Ameriprise Financial Services from $140.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. 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 report on Wednesday, October 25th. 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 report on Thursday, October 5th. 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 report on Thursday, October 5th. Finally, Barclays PLC restated an “equal weight” rating on shares of Ameriprise Financial Services in a report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ameriprise Financial Services currently has a consensus rating of “Buy” and a consensus target price of $154.20.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/11/14/highpoint-advisor-group-llc-trims-stake-in-ameriprise-financial-services-inc-amp.html.

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)

Receive News & Stock Ratings for Ameriprise Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services Inc. and related stocks with our FREE daily email newsletter.