Sterling Capital Management LLC lifted its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 62.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,951 shares of the financial services provider’s stock after acquiring an additional 10,380 shares during the period. Sterling Capital Management LLC’s holdings in Ameriprise Financial Services were worth $3,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Ameriprise Financial Services by 0.7% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Ameriprise Financial Services by 17.5% during the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 116 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Ameriprise Financial Services by 284.0% during the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 230 shares during the last quarter. Sun Life Financial INC increased its position in shares of Ameriprise Financial Services by 10,100.0% during the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Ameriprise Financial Services during the 1st quarter worth about $149,000. 79.36% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Services, Inc. (NYSE:AMP) traded up 0.41% during trading on Monday, reaching $153.53. The company’s stock had a trading volume of 82,731 shares. Ameriprise Financial Services, Inc. has a 1-year low of $86.25 and a 1-year high of $153.99. The company’s 50-day moving average is $143.12 and its 200-day moving average is $134.52. The company has a market capitalization of $23.02 billion, a P/E ratio of 17.58 and a beta of 1.88.

Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 earnings per share. Equities analysts anticipate that Ameriprise Financial Services, Inc. will post $11.28 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/10/16/sterling-capital-management-llc-has-3-43-million-stake-in-ameriprise-financial-services-inc-amp.html.

In other news, Chairman James M. Cracchiolo sold 39,450 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total value of $5,700,525.00. Following the transaction, the chairman now directly owns 260,887 shares in the company, valued at approximately $37,698,171.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kelli A. Hunter sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $144.59, for a total value of $216,885.00. Following the completion of the transaction, the vice president now owns 27,356 shares in the company, valued at $3,955,404.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,979 shares of company stock worth $26,479,126. Company insiders own 1.50% of the company’s stock.

A number of analysts recently issued reports on the company. Morgan Stanley raised their price objective on Ameriprise Financial Services from $152.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research report on Thursday, October 5th. Barclays PLC reissued an “equal weight” rating on shares of Ameriprise Financial Services in a research report on Monday, October 2nd. BidaskClub raised Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $149.31.

About Ameriprise Financial Services

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)

Receive News & Ratings for Ameriprise Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.