Laffer Investments held its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,385 shares of the financial services provider’s stock at the close of the 2nd quarter. Laffer Investments’ holdings in Ameriprise Financial Services were worth $1,958,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. UBS Asset Management Americas Inc. boosted its position in Ameriprise Financial Services by 37.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 655,992 shares of the financial services provider’s stock valued at $83,501,000 after buying an additional 179,365 shares during the period. Quantitative Investment Management LLC raised its holdings in Ameriprise Financial Services by 133.6% in the 2nd quarter. Quantitative Investment Management LLC now owns 87,600 shares of the financial services provider’s stock worth $11,150,000 after purchasing an additional 50,100 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Ameriprise Financial Services by 33.9% in the 2nd quarter. Lazard Asset Management LLC now owns 117,469 shares of the financial services provider’s stock worth $14,952,000 after purchasing an additional 29,748 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Ameriprise Financial Services by 8.3% in the 2nd quarter. New York State Common Retirement Fund now owns 350,500 shares of the financial services provider’s stock worth $44,615,000 after purchasing an additional 26,799 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in Ameriprise Financial Services by 2.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,790 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 130 shares in the last quarter. 79.39% of the stock is owned by institutional investors.

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AMP has been the subject of several research reports. Zacks Investment Research upgraded 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 report on Friday, September 1st. BidaskClub upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Citigroup Inc. set a $166.00 price objective on shares of Ameriprise Financial Services and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC raised their price objective on shares of Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, Morgan Stanley raised their price objective on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $147.09.

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) traded down 0.89% during mid-day trading on Wednesday, hitting $139.98. 115,598 shares of the stock were exchanged. The stock has a market cap of $20.99 billion, a price-to-earnings ratio of 16.03 and a beta of 1.86. Ameriprise Financial Services, Inc. has a 12 month low of $86.25 and a 12 month high of $149.99. The company has a 50-day moving average price of $140.53 and a 200-day moving average price of $132.16.

Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the business posted $2.23 EPS. Ameriprise Financial Services’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Ameriprise Financial Services, Inc. will post $11.29 earnings per share for the current year.

In other news, CEO William F. Truscott sold 19,768 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the sale, the chief executive officer now owns 70,693 shares of the company’s stock, valued at approximately $10,210,189.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Neal Maglaque sold 4,728 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.57, for a total value of $683,526.96. Following the sale, the insider now directly owns 24,901 shares in the company, 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 quarter. Company insiders own 1.50% of the company’s stock.

Ameriprise Financial Services 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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