PineBridge Investments L.P. lowered its stake in shares of Ameriprise Financial Services Inc. (NYSE:AMP) by 17.4% during the second quarter, Holdings Channel reports. The institutional investor owned 3,783 shares of the company’s stock after selling 798 shares during the period. PineBridge Investments L.P.’s holdings in Ameriprise Financial Services were worth $340,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMP. DnB Asset Management AS bought a new stake in shares of Ameriprise Financial Services during the first quarter valued at $1,286,000. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Ameriprise Financial Services by 5.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 41,140 shares of the company’s stock valued at $3,868,000 after buying an additional 2,114 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Ameriprise Financial Services during the first quarter valued at $358,000. Raymond James Trust N.A. boosted its stake in shares of Ameriprise Financial Services by 157.5% in the first quarter. Raymond James Trust N.A. now owns 9,949 shares of the company’s stock valued at $936,000 after buying an additional 6,085 shares in the last quarter. Finally, OLD National Bancorp IN boosted its stake in shares of Ameriprise Financial Services by 4.8% in the first quarter. OLD National Bancorp IN now owns 5,140 shares of the company’s stock valued at $483,000 after buying an additional 234 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

Shares of Ameriprise Financial Services Inc. (NYSE:AMP) opened at 100.11 on Wednesday. The firm’s 50-day moving average price is $98.12 and its 200 day moving average price is $96.01. The stock has a market capitalization of $16.16 billion, a P/E ratio of 12.15 and a beta of 1.66. Ameriprise Financial Services Inc. has a 52 week low of $76.00 and a 52 week high of $120.29.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by $0.03. Ameriprise Financial Services had a net margin of 12.50% and a return on equity of 20.72%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted $2.33 EPS. The business’s revenue was down 8.2% on a year-over-year basis. Analysts expect that Ameriprise Financial Services Inc. will post $9.32 earnings per share for the current year.

A number of research analysts have commented on AMP shares. UBS AG reaffirmed a “buy” rating and set a $120.00 price target (down previously from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. Zacks Investment Research lowered Ameriprise Financial Services from a “hold” rating to a “sell” rating in a research report on Friday, July 1st. Evercore ISI started coverage on Ameriprise Financial Services in a research report on Wednesday, July 6th. They set a “buy” rating and a $110.00 price target for the company. Deutsche Bank AG lowered their price target on Ameriprise Financial Services from $122.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Finally, Royal Bank Of Canada lowered Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $121.00 to $98.00 in a research report on Monday, July 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Ameriprise Financial Services currently has an average rating of “Buy” and an average price target of $113.08.

In other Ameriprise Financial Services news, Director Lon R. Greenberg acquired 3,900 shares of Ameriprise Financial Services stock in a transaction that occurred on Wednesday, June 29th. The stock was bought at an average price of $88.18 per share, with a total value of $343,902.00. Following the completion of the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $705,440. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Randy Kupper sold 5,686 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $96.91, for a total transaction of $551,030.26. Following the completion of the transaction, the executive vice president now directly owns 26,964 shares of the company’s stock, valued at approximately $2,613,081.24. The disclosure for this sale can be found here. 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.

5 Day Chart for NYSE:AMP

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