Ameriprise Financial Services, Inc. (AMP) Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its holdings in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 258,512 shares of the financial services provider’s stock after acquiring an additional 13,685 shares during the quarter. Royal Bank of Canada owned 0.17% of Ameriprise Financial Services worth $32,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of Ameriprise Financial Services by 0.7% in 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 during the period. Parallel Advisors LLC increased its position in Ameriprise Financial Services by 17.5% during the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 116 shares during the period. Sun Life Financial INC increased its position in Ameriprise Financial Services by 10,100.0% during the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,111 shares during the period. Meeder Asset Management Inc. purchased a new position in Ameriprise Financial Services during the 1st quarter valued at $149,000. Finally, Johnson Financial Group Inc. increased its position in Ameriprise Financial Services by 3.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 38 shares during the period. 79.36% of the stock is currently owned by institutional investors.

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Ameriprise Financial Services, Inc. (NYSE AMP) traded down 0.31% during midday trading on Tuesday, reaching $152.91. 209,781 shares of the company traded hands. The stock has a market capitalization of $22.93 billion, a P/E ratio of 17.51 and a beta of 1.88. Ameriprise Financial Services, Inc. has a 1-year low of $86.25 and a 1-year high of $153.75. The firm has a 50-day moving average of $143.12 and a 200-day moving average of $134.52.

Ameriprise Financial Services (NYSE:AMP) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating the Zacks’ 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 had a return on equity of 26.54% and a net margin of 11.81%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. On average, analysts predict that Ameriprise Financial Services, Inc. will post $11.28 earnings per share for the current year.

AMP has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada assumed coverage on shares of Ameriprise Financial Services in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 price target on the stock. Morgan Stanley upped their price target on shares of Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 target price for the company in a research report on Thursday, July 27th. Finally, Citigroup Inc. set a $166.00 target price on Ameriprise Financial Services and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ameriprise Financial Services currently has an average rating of “Buy” and an average target price of $149.31.

In related news, CEO William F. Truscott sold 19,768 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.43, for a total value of $2,855,092.24. Following the completion of the sale, the chief executive officer now directly owns 70,693 shares of the company’s stock, valued at $10,210,189.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman James M. Cracchiolo sold 39,450 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total value of $5,700,525.00. Following the completion of the sale, the chairman now directly owns 260,887 shares of the company’s stock, valued at $37,698,171.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,979 shares of company stock worth $26,479,126. 1.50% of the stock is currently owned by insiders.

Ameriprise Financial Services 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.

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

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