The Principal Financial Group Inc. Acquires 3,303 Shares of Ameriprise Financial Services Inc. (AMP)

The Principal Financial Group Inc. Acquires 3,303 Shares of Ameriprise Financial Services Inc. (AMP)

Principal Financial Group Inc. raised its position in shares of Ameriprise Financial Services Inc. (NYSE:AMP) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 255,228 shares of the company’s stock after buying an additional 3,303 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Ameriprise Financial Services worth $25,465,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State of New Jersey Common Pension Fund D boosted its position in shares of Ameriprise Financial Services by 3.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 824,000 shares of the company’s stock worth $82,211,000 after buying an additional 27,000 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Ameriprise Financial Services by 3.0% in the third quarter. UBS Asset Management Americas Inc. now owns 437,678 shares of the company’s stock valued at $43,668,000 after buying an additional 12,627 shares during the period. Welch & Forbes LLC boosted its position in shares of Ameriprise Financial Services by 2.3% in the second quarter. Welch & Forbes LLC now owns 146,436 shares of the company’s stock valued at $13,158,000 after buying an additional 3,315 shares during the period. TD Asset Management Inc. boosted its position in shares of Ameriprise Financial Services by 1.6% in the third quarter. TD Asset Management Inc. now owns 357,302 shares of the company’s stock valued at $35,648,000 after buying an additional 5,675 shares during the period. Finally, Conning Inc. boosted its position in shares of Ameriprise Financial Services by 2,543.6% in the second quarter. Conning Inc. now owns 213,206 shares of the company’s stock valued at $19,157,000 after buying an additional 205,141 shares during the period. 77.51% of the stock is owned by institutional investors.

Ameriprise Financial Services Inc. (NYSE:AMP) opened at 113.41 on Thursday. The stock has a market capitalization of $17.92 billion, a price-to-earnings ratio of 15.38 and a beta of 1.78. Ameriprise Financial Services Inc. has a 52-week low of $76.00 and a 52-week high of $119.32. The firm’s 50-day moving average is $113.89 and its 200-day moving average is $102.34.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $2.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by $0.13. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.86 billion. Ameriprise Financial Services had a return on equity of 21.48% and a net margin of 10.83%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.35 EPS. Analysts predict that Ameriprise Financial Services Inc. will post $8.12 earnings per share for the current year.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 6th. Credit Suisse Group AG upgraded shares of Ameriprise Financial Services from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $121.00 to $152.00 in a research report on Monday, January 9th. They noted that the move was a valuation call. SunTrust Banks Inc. lowered shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating and upped their price target for the stock from $110.00 to $120.00 in a research report on Monday, December 19th. They noted that the move was a valuation call. Oppenheimer Holdings Inc. downgraded shares of Ameriprise Financial Services to an “underweight” rating in a report on Monday, October 10th. Finally, Deutsche Bank AG downgraded shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $114.75.

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

Ameriprise Financial Services Company Profile

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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