Lowe Brockenbrough & Co. Inc. Sells 500 Shares of Ameriprise Financial Services, Inc. (AMP)

Lowe Brockenbrough & Co. Inc. lessened its holdings in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,928 shares of the financial services provider’s stock after selling 500 shares during the quarter. Ameriprise Financial Services accounts for approximately 1.4% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 17th largest position. Lowe Brockenbrough & Co. Inc.’s holdings in Ameriprise Financial Services were worth $8,900,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Buckingham Capital Management Inc. increased its stake in Ameriprise Financial Services by 3.6% during the 3rd quarter. Buckingham Capital Management Inc. now owns 12,190 shares of the financial services provider’s stock valued at $1,810,000 after purchasing an additional 420 shares in the last quarter. Commonwealth Equity Services Inc increased its stake in Ameriprise Financial Services by 8.5% during the 3rd quarter. Commonwealth Equity Services Inc now owns 12,747 shares of the financial services provider’s stock valued at $1,893,000 after purchasing an additional 1,001 shares in the last quarter. Putnam FL Investment Management Co. bought a new stake in Ameriprise Financial Services during the 3rd quarter valued at $1,600,000. Cambridge Investment Research Advisors Inc. increased its stake in Ameriprise Financial Services by 57.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,764 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Ameriprise Financial Services by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 288,443 shares of the financial services provider’s stock valued at $42,838,000 after purchasing an additional 12,314 shares in the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.

A number of brokerages have commented on AMP. Zacks Investment Research lowered shares of Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Citigroup Inc. set a $166.00 price target on shares of Ameriprise Financial Services and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC lifted their price objective on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. BidaskClub raised shares of Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada set a $155.00 price objective on shares of Ameriprise Financial Services and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $154.20.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) traded up $1.62 during trading hours on Friday, hitting $158.70. 273,321 shares of the company were exchanged, compared to its average volume of 765,125. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82. The stock has a market cap of $23,480.00, a P/E ratio of 13.38 and a beta of 1.92. Ameriprise Financial Services, Inc. has a 52 week low of $109.19 and a 52 week high of $163.04.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.33. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.75%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. analysts predict that Ameriprise Financial Services, Inc. will post 12.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, November 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 31.00%.

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In related news, Chairman James M. Cracchiolo sold 42,228 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the transaction, the chairman now directly owns 242,013 shares of the company’s stock, valued at approximately $38,559,931.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Robert Woerner sold 9,022 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $160.91, for a total transaction of $1,451,730.02. Following the completion of the transaction, the insider now directly owns 43,167 shares in the company, valued at $6,946,001.97. The disclosure for this sale can be found here. Insiders sold a total of 59,717 shares of company stock worth $9,543,677 over the last three months. 1.50% of the stock is owned by insiders.

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.

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Institutional Ownership by Quarter for Ameriprise Financial Services (NYSE:AMP)

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