Private Advisor Group LLC Raises Holdings in AMERIPRISE FINANCIAL SERVICES, INC. (AMP)

Private Advisor Group LLC raised its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 27.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,334 shares of the financial services provider’s stock after purchasing an additional 726 shares during the quarter. Private Advisor Group LLC’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares in the last quarter. Intrust Bank NA boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% during the 2nd quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 12 shares in the last quarter. RMB Capital Management LLC boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.9% during the 1st quarter. RMB Capital Management LLC now owns 1,917 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 17 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.5% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,472 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 17 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% during the 1st quarter. Savant Capital LLC now owns 3,067 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 20 shares in the last quarter. 79.55% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on AMP shares. Zacks Investment Research raised AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Friday, September 1st. Morgan Stanley increased their price target on AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. BidaskClub raised AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada set a $149.00 price target on AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Finally, Barclays PLC increased their price target on AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. AMERIPRISE FINANCIAL SERVICES, INC. has an average rating of “Hold” and an average price target of $146.87.

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In other news, EVP Randy Kupper sold 2,987 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $130.24, for a total value of $389,026.88. Following the completion of the transaction, the executive vice president now owns 30,969 shares of the company’s stock, valued at approximately $4,033,402.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Neal Maglaque sold 4,728 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $144.57, for a total transaction of $683,526.96. Following the completion of the transaction, the insider now directly owns 24,901 shares of the company’s stock, valued at approximately $3,599,937.57. The disclosure for this sale can be found here. Insiders sold a total of 185,966 shares of company stock valued at $26,868,153 in the last three months. 1.50% of the stock is owned by company insiders.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP) opened at 139.86 on Friday. The stock has a market cap of $20.97 billion, a price-to-earnings ratio of 16.02 and a beta of 1.86. The stock has a 50 day moving average price of $140.74 and a 200-day moving average price of $132.04. AMERIPRISE FINANCIAL SERVICES, INC. has a 12-month low of $86.25 and a 12-month high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the business earned $2.23 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is 37.81%.

About AMERIPRISE FINANCIAL SERVICES, INC.

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, INC. (NYSE:AMP)

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