Cigna Investments Inc. New reduced its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 5.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,052 shares of the financial services provider’s stock after selling 379 shares during the period. Cigna Investments Inc. New’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $770,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. 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 worth $108,000 after buying an additional 4 shares in the last quarter. RMB Capital Management LLC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.9% in the first quarter. RMB Capital Management LLC now owns 1,917 shares of the financial services provider’s stock worth $249,000 after buying an additional 17 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.5% in the second quarter. Stratos Wealth Partners LTD. now owns 3,472 shares of the financial services provider’s stock worth $442,000 after buying an additional 17 shares in the last quarter. Savant Capital LLC boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% in the first quarter. Savant Capital LLC now owns 3,067 shares of the financial services provider’s stock worth $398,000 after buying an additional 20 shares in the last quarter. Finally, Dubuque Bank & Trust Co. boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock worth $124,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP) opened at 143.36 on Friday. The firm has a market cap of $21.50 billion, a PE ratio of 16.42 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 stock’s 50 day moving average is $137.07 and its 200-day moving average is $129.38.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS 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 the consensus estimate of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. Analysts expect that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 earnings per share for the current year.

AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has initiated a share repurchase program on Monday, April 24th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is presently 37.81%.

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A number of analysts have commented on the stock. Barclays PLC increased their price target on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday. Deutsche Bank AG reiterated a “hold” rating and issued a $140.00 price target (up previously from $137.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Thursday, April 20th. Royal Bank Of Canada initiated coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 price target for the company. BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Citigroup Inc. set a $166.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. AMERIPRISE FINANCIAL SERVICES, INC. currently has a consensus rating of “Buy” and a consensus target price of $146.98.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, Chairman James M. Cracchiolo sold 97,545 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were 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 $68,593,689.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Randy Kupper sold 2,987 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $130.24, for a total transaction of $389,026.88. Following the sale, the executive vice president now directly owns 30,969 shares in the company, valued at $4,033,402.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,891 shares of company stock worth $20,931,867. Insiders own 1.50% of the company’s stock.

About AMERIPRISE FINANCIAL SERVICES, INC.

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, INC. (NYSE:AMP)

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