HPM Partners LLC lifted its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 118.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,730 shares of the financial services provider’s stock after acquiring an additional 4,729 shares during the period. HPM Partners LLC’s holdings in Ameriprise Financial Services were worth $1,111,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. AXA boosted its holdings in shares of Ameriprise Financial Services by 977.6% in the second quarter. AXA now owns 310,074 shares of the financial services provider’s stock worth $39,470,000 after acquiring an additional 281,300 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Ameriprise Financial Services by 1.0% in the second quarter. Franklin Resources Inc. now owns 31,937 shares of the financial services provider’s stock worth $4,065,000 after acquiring an additional 316 shares during the period. CIBC World Markets Inc. boosted its holdings in shares of Ameriprise Financial Services by 12.0% in the second quarter. CIBC World Markets Inc. now owns 5,389 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 577 shares during the period. Commonwealth Bank of Australia boosted its stake in Ameriprise Financial Services by 13.2% during the second quarter. Commonwealth Bank of Australia now owns 30,633 shares of the financial services provider’s stock valued at $3,897,000 after buying an additional 3,570 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Ameriprise Financial Services by 27.8% during the second quarter. Private Advisor Group LLC now owns 3,334 shares of the financial services provider’s stock valued at $443,000 after buying an additional 726 shares during the period. 79.55% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Kelli A. Hunter sold 1,500 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $144.59, for a total value of $216,885.00. Following the sale, the vice president now directly owns 27,356 shares of the company’s stock, valued at approximately $3,955,404.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James M. Cracchiolo sold 97,545 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total transaction of $14,111,835.15. Following the completion of the sale, the chairman now directly owns 474,139 shares in the company, valued at $68,593,689.13. The disclosure for this sale can be found here. Insiders sold a total of 185,966 shares of company stock worth $26,868,153 over the last three months. 1.50% of the stock is currently owned by corporate insiders.
AMP has been the subject of several research analyst reports. BidaskClub raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada initiated coverage on Ameriprise Financial Services in a research note on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price objective for the company. Morgan Stanley lifted their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a research report on Thursday, July 27th. Finally, Citigroup Inc. set a $166.00 price target on Ameriprise Financial Services and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $146.87.
Ameriprise Financial Services, Inc. (NYSE AMP) traded up 0.61% on Friday, hitting $139.86. The stock had a trading volume of 1,808,220 shares. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 16.02 and a beta of 1.86. Ameriprise Financial Services, Inc. has a 52-week low of $86.25 and a 52-week high of $149.99. The company’s 50 day moving average price is $140.74 and its 200 day moving average price is $132.04.
Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 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 firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned $2.23 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that Ameriprise Financial Services, Inc. will post $11.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 37.81%.
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.
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