Ameriprise Financial Services, Inc. (NYSE:AMP) Chairman James M. Cracchiolo sold 39,450 shares of Ameriprise Financial Services 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 sale, the chairman now directly owns 260,887 shares in the company, valued at $37,698,171.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) traded down 1.06% during mid-day trading on Wednesday, reaching $143.36. The company had a trading volume of 810,886 shares. The company has a market capitalization of $21.50 billion, a PE ratio of 16.42 and a beta of 1.86. Ameriprise Financial Services, Inc. has a 52-week low of $86.25 and a 52-week 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 results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted $2.23 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Ameriprise Financial Services, Inc. will post $11.30 earnings per share for the current fiscal year.

Ameriprise Financial Services announced that its board has approved a stock buyback plan on Monday, April 24th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders 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 dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 3rd. Ameriprise Financial Services’s payout ratio is 37.81%.

TRADEMARK VIOLATION NOTICE: “James M. Cracchiolo Sells 39,450 Shares of Ameriprise Financial Services, Inc. (AMP) Stock” was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/james-m-cracchiolo-sells-39450-shares-of-ameriprise-financial-services-inc-amp-stock/1496543.html.

AMP has been the topic of a number of analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and set a $140.00 target price (up from $137.00) on shares of Ameriprise Financial Services in a research report on Thursday, April 20th. Barclays PLC reaffirmed an “equal weight” rating and set a $130.00 target price (up from $127.00) on shares of Ameriprise Financial Services in a research report on Tuesday, April 25th. Zacks Investment Research lowered Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $127.00 target price (up from $124.00) on shares of Ameriprise Financial Services in a research report on Wednesday, April 26th. Finally, BidaskClub raised Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $146.98.

Several hedge funds have recently added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in 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 period. Intrust Bank NA boosted its position in shares of Ameriprise Financial Services by 0.7% in the second quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock worth $228,000 after buying an additional 12 shares during the last quarter. RMB Capital Management LLC boosted its position 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 worth $249,000 after buying an additional 17 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position 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 worth $442,000 after buying an additional 17 shares during the last quarter. Finally, Savant Capital LLC boosted its position 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 worth $398,000 after buying an additional 20 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

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.

Insider Buying and Selling 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 Analyst Ratings Network's FREE daily email newsletter.