IFP Advisors Inc lowered its stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 20.1% during the second quarter, Holdings Channel reports. The fund owned 2,322 shares of the financial services provider’s stock after selling 585 shares during the period. IFP Advisors Inc’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $296,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% in the second 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 buying an additional 6 shares during the last quarter. Dubuque Bank & Trust Co. increased its position in AMERIPRISE FINANCIAL SERVICES, INC. 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 bought a new position in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $124,000. State of Alaska Department of Revenue bought a new position in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $125,000. Finally, Meeder Asset Management Inc. bought a new position in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter valued at about $149,000. Institutional investors own 82.01% of the company’s stock.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE AMP) opened at 143.36 on Thursday. The company has a 50-day moving average of $138.67 and a 200-day moving average of $130.13. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $86.25 and a 1-year high of $149.99. The company has a market cap of $21.50 billion, a PE ratio of 16.42 and a beta of 1.86.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping 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 business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company earned $2.23 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio is currently 37.81%.

AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has initiated a stock repurchase plan on Monday, April 24th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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Several research analysts have recently issued reports on the stock. Deutsche Bank AG restated a “hold” rating and set a $140.00 price objective (up previously from $137.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Thursday, April 20th. BidaskClub raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Barclays PLC reissued an “equal weight” rating and issued a $130.00 target price (up previously from $127.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Tuesday, April 25th. Morgan Stanley upped their target price on shares of 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. Finally, Royal Bank Of Canada assumed coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $146.98.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, EVP Randy Kupper sold 2,987 shares of the firm’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $130.24, for a total value of $389,026.88. Following the transaction, the executive vice president now directly owns 30,969 shares of the company’s stock, valued at approximately $4,033,402.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman James M. Cracchiolo sold 13,418 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $146.25, for a total transaction of $1,962,382.50. Following the completion of the transaction, the chairman now directly owns 283,891 shares in the company, valued at $41,519,058.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,966 shares of company stock worth $26,868,153. Insiders own 1.50% of the company’s stock.

AMERIPRISE FINANCIAL SERVICES, INC. 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, INC. (NYSE:AMP)

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