Victory Capital Management Inc. increased its stake in shares of Ameriprise Financial Services Inc. (NYSE:AMP) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 32,510 shares of the company’s stock after buying an additional 4,370 shares during the period. Victory Capital Management Inc.’s holdings in Ameriprise Financial Services were worth $2,921,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMP. DnB Asset Management AS acquired a new position in Ameriprise Financial Services during the first quarter valued at about $1,286,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Ameriprise Financial Services by 12.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,180 shares of the company’s stock valued at $3,777,000 after buying an additional 4,446 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in 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 during the period. Acadian Asset Management LLC acquired a new position in Ameriprise Financial Services during the first quarter valued at about $358,000. Finally, Raymond James Trust N.A. raised its position in 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 during the period. Institutional investors and hedge funds own 80.08% of the company’s stock.

Ameriprise Financial Services Inc. (NYSE:AMP) opened at 99.31 on Friday. Ameriprise Financial Services Inc. has a 52 week low of $76.00 and a 52 week high of $120.29. The company has a market capitalization of $16.03 billion, a PE ratio of 12.05 and a beta of 1.66. The firm has a 50-day moving average of $97.54 and a 200-day moving average of $95.58.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, August 4th. Ameriprise Financial Services’s dividend payout ratio is currently 36.45%.

AMP has been the subject of several recent research reports. UBS AG reissued a “buy” rating and issued 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 raised shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. Evercore ISI initiated coverage on shares of Ameriprise Financial Services in a research report on Wednesday, July 6th. They issued a “buy” rating and a $110.00 price target for the company. RBC Capital Markets lowered shares of Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $121.00 to $98.00 in a research report on Monday, July 25th. Finally, Royal Bank Of Canada lowered shares of Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $121.00 to $98.00 in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $113.08.

In other news, EVP Randy Kupper sold 5,686 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $96.91, for a total transaction of $551,030.26. Following the completion of the sale, the executive vice president now owns 26,964 shares of the company’s stock, valued at approximately $2,613,081.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Robert Woerner sold 4,513 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $100.71, for a total transaction of $454,504.23. Following the sale, the insider now directly 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. 1.40% of the stock is currently owned by company insiders.

About Ameriprise Financial Services

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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