Principal Financial Group Inc. lowered its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,101 shares of the financial services provider’s stock after selling 3,143 shares during the period. Principal Financial Group Inc.’s holdings in Ameriprise Financial Services were worth $31,525,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position 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 last quarter. Dubuque Bank & Trust Co. increased its stake in shares of Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock worth $124,000 after buying an additional 22 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Ameriprise Financial Services during the first quarter worth about $124,000. State of Alaska Department of Revenue bought a new stake in shares of Ameriprise Financial Services during the first quarter worth about $125,000. Finally, Focused Wealth Management Inc bought a new stake in shares of Ameriprise Financial Services during the first quarter worth about $169,000. 80.82% of the stock is currently owned by institutional investors.
Shares of Ameriprise Financial Services, Inc. (NYSE AMP) traded down 0.48% during trading on Tuesday, hitting $131.49. 197,655 shares of the stock traded hands. The firm’s 50-day moving average price is $125.95 and its 200-day moving average price is $123.52. Ameriprise Financial Services, Inc. has a 12 month low of $84.92 and a 12 month high of $135.20. The stock has a market cap of $20.05 billion, a PE ratio of 16.00 and a beta of 1.86.
Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Monday, April 24th. The financial services provider reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.18. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.89 billion. Ameriprise Financial Services had a net margin of 11.44% and a return on equity of 24.75%. Ameriprise Financial Services’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.17 EPS. Analysts anticipate that Ameriprise Financial Services, Inc. will post $10.88 EPS for the current year.
A number of research analysts have recently commented on AMP shares. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Monday, April 10th. Barclays PLC reiterated an “equal weight” rating and set a $130.00 price target (up from $127.00) on shares of Ameriprise Financial Services in a report on Tuesday, April 25th. William Blair started coverage on Ameriprise Financial Services in a research note on Thursday, March 2nd. They issued an “outperform” rating and a $138.80 target price for the company. Citigroup Inc. reaffirmed a “buy” rating on shares of Ameriprise Financial Services in a research report on Monday, April 3rd. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $127.00 target price (up previously from $124.00) on shares of Ameriprise Financial Services in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Ameriprise Financial Services presently has an average rating of “Hold” and a consensus target price of $129.07.
In other news, VP Kelli A. Hunter sold 943 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $128.80, for a total value of $121,458.40. Following the sale, the vice president now directly owns 39,919 shares of the company’s stock, valued at approximately $5,141,567.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.
Ameriprise Financial Services 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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