The Ameriprise Financial Services Inc. (AMP) Shares Sold by Shell Asset Management Co.

The Ameriprise Financial Services Inc. (AMP) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in shares of Ameriprise Financial Services Inc. (NYSE:AMP) by 8.2% during the third quarter, Holdings Channel reports. The institutional investor owned 13,064 shares of the company’s stock after selling 1,173 shares during the period. Shell Asset Management Co.’s holdings in Ameriprise Financial Services were worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aristotle Capital Management LLC acquired a new stake in Ameriprise Financial Services during the second quarter valued at about $203,871,000. Cohen & Steers Inc. raised its stake in Ameriprise Financial Services by 689.0% in the second quarter. Cohen & Steers Inc. now owns 1,034,376 shares of the company’s stock valued at $87,415,000 after buying an additional 903,276 shares in the last quarter. Numeric Investors LLC raised its stake in Ameriprise Financial Services by 542.6% in the second quarter. Numeric Investors LLC now owns 1,021,100 shares of the company’s stock valued at $91,746,000 after buying an additional 862,200 shares in the last quarter. Vanguard Group Inc. raised its stake in Ameriprise Financial Services by 6.4% in the second quarter. Vanguard Group Inc. now owns 12,256,414 shares of the company’s stock valued at $1,101,239,000 after buying an additional 731,863 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Ameriprise Financial Services by 52.0% in the second quarter. Royal Bank of Canada now owns 703,468 shares of the company’s stock valued at $63,209,000 after buying an additional 240,530 shares in the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

Shares of Ameriprise Financial Services Inc. (NYSE:AMP) traded down 0.38% during midday trading on Thursday, hitting $112.98. The company’s stock had a trading volume of 893,001 shares. The stock’s 50 day moving average is $113.89 and its 200-day moving average is $102.34. Ameriprise Financial Services Inc. has a 52-week low of $76.00 and a 52-week high of $119.32. The firm has a market cap of $17.86 billion, a P/E ratio of 15.32 and a beta of 1.78.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by $0.13. The company earned $3 billion during the quarter, compared to the consensus estimate of $2.86 billion. Ameriprise Financial Services had a return on equity of 21.48% and a net margin of 10.83%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.35 EPS. Equities analysts predict that Ameriprise Financial Services Inc. will post $8.12 EPS for the current fiscal year.

Several research firms have recently commented on AMP. Deutsche Bank AG downgraded Ameriprise Financial Services from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Friday, October 14th. Oppenheimer Holdings Inc. downgraded Ameriprise Financial Services to an “underweight” rating in a research report on Monday, October 10th. Credit Suisse Group AG began coverage on Ameriprise Financial Services in a research report on Friday, October 7th. They issued a “neutral” rating and a $116.00 target price on the stock. Zacks Investment Research downgraded Ameriprise Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Finally, SunTrust Banks Inc. downgraded Ameriprise Financial Services from a “buy” rating to a “hold” rating and upped their target price for the company from $110.00 to $120.00 in a research report on Monday, December 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $114.75.

In related news, insider Joseph Edward Sweeney sold 4,487 shares of Ameriprise Financial Services stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $114.47, for a total value of $513,626.89. Following the sale, the insider now owns 14,130 shares of the company’s stock, valued at approximately $1,617,461.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deirdre Davey Mcgraw sold 1,864 shares of Ameriprise Financial Services stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $112.63, for a total transaction of $209,942.32. Following the completion of the sale, the executive vice president now directly owns 14,542 shares in the company, valued at approximately $1,637,865.46. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

About Ameriprise Financial Services

Ameriprise Financial, Inc is a diversified 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 Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors.

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