Smith Asset Management Group LP reduced its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,250 shares of the financial services provider’s stock after selling 16,710 shares during the period. Smith Asset Management Group LP’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $15,816,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 1.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 100,543 shares of the financial services provider’s stock worth $13,039,000 after buying an additional 1,712 shares during the last quarter. Stewart & Patten Co. LLC purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth $486,000. State of Alaska Department of Revenue purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth $125,000. Boston Advisors LLC raised its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 5,188.7% in the first quarter. Boston Advisors LLC now owns 122,750 shares of the financial services provider’s stock worth $15,918,000 after buying an additional 120,429 shares during the last quarter. Finally, DnB Asset Management AS raised its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 17.6% in the first quarter. DnB Asset Management AS now owns 18,684 shares of the financial services provider’s stock worth $2,423,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) opened at 143.36 on Friday. AMERIPRISE FINANCIAL SERVICES, INC. has a 52-week low of $86.25 and a 52-week high of $149.99. The stock has a market capitalization of $21.50 billion, a P/E ratio of 16.42 and a beta of 1.86. The company has a 50 day moving average of $137.07 and a 200-day moving average of $129.38.

AMERIPRISE FINANCIAL SERVICES, INC. (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, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 earnings per share. Equities research analysts anticipate that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 EPS for the current year.

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

AMERIPRISE FINANCIAL SERVICES, INC. announced that its Board of Directors has authorized a share buyback program on Monday, April 24th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Citigroup Inc. set a $166.00 price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 price objective on the stock in a report on Thursday, July 27th. Royal Bank Of Canada set a $149.00 price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a report on Wednesday, July 26th. Finally, Morgan Stanley raised their price objective on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $146.98.

In other AMERIPRISE FINANCIAL SERVICES, INC. news, EVP Randy Kupper sold 2,987 shares of the stock in a transaction on 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 of the company’s stock, valued at $4,033,402.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William F. Truscott sold 19,768 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $144.43, for a total transaction 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. Insiders sold 144,891 shares of company stock worth $20,931,867 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

AMERIPRISE FINANCIAL SERVICES, INC. Company Profile

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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