Nordea Investment Management AB decreased its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 9.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,752 shares of the financial services provider’s stock after selling 711 shares during the quarter. Nordea Investment Management AB’s holdings in Ameriprise Financial Services were worth $859,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Cibc World Markets Corp grew its position in shares of Ameriprise Financial Services by 33.7% during the second quarter. Cibc World Markets Corp now owns 21,538 shares of the financial services provider’s stock worth $2,742,000 after buying an additional 5,430 shares in the last quarter. NorthRock Partners LLC grew its position in shares of Ameriprise Financial Services by 13.9% during the second quarter. NorthRock Partners LLC now owns 84,867 shares of the financial services provider’s stock worth $10,836,000 after buying an additional 10,379 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ameriprise Financial Services during the second quarter worth approximately $1,932,000. FIL Ltd bought a new position in Ameriprise Financial Services during the second quarter worth $8,910,000. Finally, MML Investors Services LLC bought a new position in Ameriprise Financial Services during the second quarter worth $254,000. 79.36% of the stock is owned by institutional investors and hedge funds.
In related news, insider Charles Neal Maglaque sold 4,728 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $144.57, for a total value of $683,526.96. Following the sale, the insider now owns 24,901 shares in the company, valued at $3,599,937.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman James M. Cracchiolo sold 39,450 shares of the stock in a transaction on 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 completion of the sale, the chairman now owns 260,887 shares in the company, valued at approximately $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. Company insiders own 1.50% of the company’s stock.
Several equities analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on Ameriprise Financial Services in a research note on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price objective on the stock. Zacks Investment Research cut Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Barclays PLC raised their target price on Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Finally, Citigroup Inc. set a $166.00 price objective on shares of Ameriprise Financial Services and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $149.31.
Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) opened at 152.35 on Wednesday. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 17.45 and a beta of 1.88. The company has a 50-day moving average price of $143.12 and a 200 day moving average price of $134.52. Ameriprise Financial Services, Inc. has a 12-month low of $86.25 and a 12-month high of $153.75.
Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating the 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 had a return on equity of 26.54% and a net margin of 11.81%. Ameriprise Financial Services’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. Equities research analysts expect that Ameriprise Financial Services, Inc. will post $11.29 earnings per share for the current fiscal year.
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.
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