Hartford Investment Management Co. Lowers Position in Ameriprise Financial Services, Inc. (AMP)

Hartford Investment Management Co. cut its holdings in Ameriprise Financial Services, Inc. (NYSE:AMP) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,713 shares of the financial services provider’s stock after selling 822 shares during the quarter. Hartford Investment Management Co.’s holdings in Ameriprise Financial Services were worth $4,858,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 116 shares during the period. IHT Wealth Management LLC lifted its stake in Ameriprise Financial Services by 284.0% in the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 230 shares during the period. Sun Life Financial INC lifted its stake in Ameriprise Financial Services by 10,100.0% in the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,111 shares during the period. Johnson Financial Group Inc. lifted its stake in Ameriprise Financial Services by 3.3% in the second quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 38 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in Ameriprise Financial Services by 60.3% in the second quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 517 shares during the period. 81.70% of the stock is owned by institutional investors.

A number of research firms recently weighed in on AMP. Barclays reaffirmed an “equal weight” rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Friday, September 1st. BidaskClub lowered shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Royal Bank Of Canada set a $149.00 price objective on shares of Ameriprise Financial Services and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, ValuEngine lowered shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $154.20.

Shares of Ameriprise Financial Services, Inc. (AMP) opened at $162.47 on Friday. The company has a market cap of $24,034.19, a PE ratio of 13.82 and a beta of 1.93. Ameriprise Financial Services, Inc. has a 1 year low of $109.19 and a 1 year high of $166.13. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82.

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

The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, November 3rd. Ameriprise Financial Services’s payout ratio is 30.97%.

In related news, EVP Colin Moore sold 4,285 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $161.09, for a total value of $690,270.65. Following the completion of the transaction, the executive vice president now directly owns 73,690 shares of the company’s stock, valued at approximately $11,870,722.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Robert Woerner sold 9,022 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were 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 of the company’s stock, valued at $6,946,001.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,320 shares of company stock valued at $9,640,592. Insiders own 1.50% of the company’s stock.

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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.

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

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