Raymond James Trust N.A. cut its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 10.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,069 shares of the financial services provider’s stock after selling 1,497 shares during the quarter. Raymond James Trust N.A.’s holdings in Ameriprise Financial Services were worth $1,664,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in shares of Ameriprise Financial Services by 0.7% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares in the last quarter. Intrust Bank NA grew its position in shares of Ameriprise Financial Services by 0.7% during 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 in the last quarter. RMB Capital Management LLC grew its position in shares of Ameriprise Financial Services by 0.9% during 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. grew its position in shares of Ameriprise Financial Services by 0.5% during 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. Finally, Savant Capital LLC grew its position in shares of Ameriprise Financial Services by 0.7% during 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. 79.55% of the stock is owned by institutional investors and hedge funds.

In other Ameriprise Financial Services news, EVP Randy Kupper sold 2,987 shares of Ameriprise Financial Services stock in a transaction that occurred on Thursday, June 29th. The stock was 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 approximately $4,033,402.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $14,111,835.15. Following the sale, the chairman now owns 474,139 shares in the company, valued at $68,593,689.13. The disclosure for this sale can be found here. Insiders have sold a total of 185,966 shares of company stock worth $26,868,153 over the last 90 days. 1.50% of the stock is owned by company insiders.

A number of equities analysts have recently commented on AMP shares. Royal Bank Of Canada set a $149.00 price objective on Ameriprise Financial Services and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. BidaskClub downgraded Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Morgan Stanley upped their price target on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Zacks Investment Research downgraded Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Finally, Citigroup Inc. set a $166.00 price target on Ameriprise Financial Services and gave the company a “buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $146.87.

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) traded down 0.33% during trading on Wednesday, reaching $137.19. The company had a trading volume of 73,057 shares. Ameriprise Financial Services, Inc. has a 52-week low of $86.25 and a 52-week high of $149.99. The company has a market capitalization of $20.57 billion, a P/E ratio of 15.71 and a beta of 1.86. The firm has a 50-day moving average price of $141.01 and a 200-day moving average price of $131.83.

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 (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $2.23 EPS. Ameriprise Financial Services’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.41%. Ameriprise Financial Services’s dividend payout ratio is presently 37.81%.

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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.

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

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