First Merchants Corp boosted its stake in Ameriprise Financial Services Inc. (NYSE:AMP) by 26.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,550 shares of the company’s stock after buying an additional 5,180 shares during the period. First Merchants Corp’s holdings in Ameriprise Financial Services were worth $2,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Bessemer Group Inc. boosted its position in Ameriprise Financial Services by 142.4% in the first quarter. Bessemer Group Inc. now owns 1,115 shares of the company’s stock valued at $105,000 after buying an additional 655 shares in the last quarter. FDO Partners LLC purchased a new position in Ameriprise Financial Services during the first quarter valued at $200,000. IFP Advisors Inc boosted its position in Ameriprise Financial Services by 48.7% in the first quarter. IFP Advisors Inc now owns 2,281 shares of the company’s stock valued at $214,000 after buying an additional 747 shares in the last quarter. Capital Analysts LLC boosted its position in Ameriprise Financial Services by 872.2% in the second quarter. Capital Analysts LLC now owns 5,522 shares of the company’s stock valued at $215,000 after buying an additional 4,954 shares in the last quarter. Finally, HL Financial Services LLC boosted its position in Ameriprise Financial Services by 1.3% in the second quarter. HL Financial Services LLC now owns 2,390 shares of the company’s stock valued at $215,000 after buying an additional 31 shares in the last quarter. 80.08% of the stock is owned by institutional investors.

Shares of Ameriprise Financial Services Inc. (NYSE:AMP) traded down 0.59% during trading on Tuesday, hitting $99.37. The stock had a trading volume of 671,577 shares. Ameriprise Financial Services Inc. has a 52 week low of $76.00 and a 52 week high of $120.29. The company’s 50 day moving average price is $97.99 and its 200 day moving average price is $95.94. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 12.06 and a beta of 1.66.

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

AMP has been the subject of several recent research reports. Morgan Stanley reaffirmed a “buy” rating and set a $120.00 price objective on shares of Ameriprise Financial Services in a research report on Thursday, July 28th. Deutsche Bank AG increased their price target on Ameriprise Financial Services from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Evercore ISI assumed 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. UBS AG reissued a “buy” rating and set a $120.00 price target (down from $125.00) on shares of Ameriprise Financial Services in a research report on Wednesday, June 29th. Finally, Zacks Investment Research raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $113.08.

In other Ameriprise Financial Services news, VP John Carl Junek sold 4,683 shares of Ameriprise Financial Services stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $100.30, for a total transaction of $469,704.90. Following the completion of the transaction, the vice president now owns 37,766 shares in the company, valued at approximately $3,787,929.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Robert Woerner sold 4,513 shares of Ameriprise Financial Services stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $100.71, for a total value of $454,504.23. Following the transaction, the insider now owns 39,443 shares of the company’s stock, valued at approximately $3,972,304.53. The disclosure for this sale can be found here. Company 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.

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