HL Financial Services LLC maintained its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) during the second quarter, Holdings Channel reports. The institutional investor owned 2,588 shares of the financial services provider’s stock at the end of the second quarter. HL Financial Services LLC’s holdings in Ameriprise Financial Services were worth $329,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Ameriprise Financial Services by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock valued at $108,000 after buying an additional 4 shares during the last quarter. RMB Capital Management LLC raised its stake in shares of Ameriprise Financial Services by 0.9% in the first quarter. RMB Capital Management LLC now owns 1,917 shares of the financial services provider’s stock valued at $249,000 after buying an additional 17 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Ameriprise Financial Services by 0.5% in the second quarter. Stratos Wealth Partners LTD. now owns 3,472 shares of the financial services provider’s stock valued at $442,000 after buying an additional 17 shares during the last quarter. Savant Capital LLC raised its stake in shares of Ameriprise Financial Services by 0.7% in the first quarter. Savant Capital LLC now owns 3,067 shares of the financial services provider’s stock valued at $398,000 after buying an additional 20 shares during the last quarter. Finally, Dubuque Bank & Trust Co. raised its stake in shares of Ameriprise Financial Services 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. Institutional investors own 82.01% of the company’s stock.

Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 144.90 on Wednesday. The firm has a market capitalization of $21.73 billion, a P/E ratio of 16.60 and a beta of 1.86. Ameriprise Financial Services, Inc. has a 1-year low of $86.25 and a 1-year high of $149.99. The company’s 50-day moving average price is $138.17 and its 200-day moving average price is $130.03.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 EPS. Equities research analysts expect that Ameriprise Financial Services, Inc. will post $11.30 earnings per share for the current fiscal year.

Ameriprise Financial Services declared that its board has initiated a stock buyback plan on Monday, April 24th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be given a dividend of $0.83 per share. The ex-dividend date is Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.29%. Ameriprise Financial Services’s payout ratio is 37.81%.

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Several brokerages recently commented on AMP. Deutsche Bank AG restated a “hold” rating and set a $140.00 target price (up previously from $137.00) on shares of Ameriprise Financial Services in a research report on Thursday, April 20th. Royal Bank Of Canada began coverage on Ameriprise Financial Services in a research report on Thursday, June 29th. They set a “sector perform” rating and a $135.00 target price on the stock. BidaskClub upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a research note on Thursday, July 27th. Finally, Barclays PLC upped their price target on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $146.98.

In other Ameriprise Financial Services news, Chairman James M. Cracchiolo sold 97,545 shares of Ameriprise Financial Services stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total transaction of $14,111,835.15. Following the sale, the chairman now directly owns 474,139 shares of the company’s stock, valued at approximately $68,593,689.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 19,768 shares of Ameriprise Financial Services stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $144.43, for a total value of $2,855,092.24. Following the sale, the chief executive officer now directly owns 70,693 shares in the company, valued at $10,210,189.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,516 shares of company stock worth $21,167,628. Insiders own 1.50% of the company’s stock.

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.

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Institutional Ownership by Quarter for Ameriprise Financial Services (NYSE:AMP)

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