The Russell Investments Group Ltd. Has $35.18 Million Stake in Ameriprise Financial Services, Inc. (AMP)

The Russell Investments Group Ltd. Has $35.18 Million Stake in Ameriprise Financial Services, Inc. (AMP)

Other hedge funds and other institutional investors have also modified their holdings of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Ameriprise Financial Services by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. Dubuque Bank & Trust Co. raised its position in shares of Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock valued at $124,000 after buying an additional 22 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of Ameriprise Financial Services during the first quarter valued at $124,000. State of Alaska Department of Revenue acquired a new position in shares of Ameriprise Financial Services during the first quarter valued at $125,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Ameriprise Financial Services during the first quarter valued at $149,000. Institutional investors own 80.67% of the company’s stock.

Russell Investments Group Ltd. reduced its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 36.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,129 shares of the financial services provider’s stock after selling 155,731 shares during the period. Russell Investments Group Ltd.’s holdings in Ameriprise Financial Services were worth $35,177,000 as of its most recent SEC filing.

Ameriprise Financial Services, Inc. (AMP) traded down 0.449% on Wednesday, hitting $145.265. The stock had a trading volume of 803,149 shares. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 16.638 and a beta of 1.86. The company’s 50-day moving average price is $133.12 and its 200 day moving average price is $127.79. Ameriprise Financial Services, Inc. has a one year low of $86.25 and a one year high of $147.19.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.23 EPS. Analysts expect that Ameriprise Financial Services, Inc. will post $11.29 earnings per share for the current year.

Ameriprise Financial Services announced that its Board of Directors has authorized a share repurchase program on Monday, April 24th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.28%. Ameriprise Financial Services’s payout ratio is 37.81%.

Several brokerages recently weighed in on AMP. Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. BidaskClub upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a research report on Thursday, July 27th. Finally, Morgan Stanley increased their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $145.64.

In related news, VP Kelli A. Hunter sold 1,500 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $144.59, for a total transaction of $216,885.00. Following the completion of the sale, the vice president now directly owns 27,356 shares of the company’s stock, valued at approximately $3,955,404.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Kent Stewart sold 4,945 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $144.21, for a total transaction of $713,118.45. Following the sale, the insider now directly owns 21,969 shares of the company’s stock, valued at $3,168,149.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,375 shares of company stock valued at $1,440,489. Insiders own 1.50% of the company’s stock.

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.

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial Services, Inc. (NYSE:AMP).

Related posts

Leave a Comment