Reliance Trust Co. of Delaware decreased its stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,808 shares of the financial services provider’s stock after selling 252 shares during the period. Reliance Trust Co. of Delaware’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $612,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMP. Renaissance Technologies LLC boosted its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 63.9% in the fourth quarter. Renaissance Technologies LLC now owns 39,000 shares of the financial services provider’s stock worth $4,327,000 after buying an additional 15,200 shares in the last quarter. RMB Capital Management LLC purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the fourth quarter worth about $211,000. UBS Asset Management Americas Inc. boosted its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 28.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 562,425 shares of the financial services provider’s stock worth $62,396,000 after buying an additional 124,747 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the fourth quarter worth about $1,272,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the fourth quarter worth about $568,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) traded down 0.30% during trading on Friday, reaching $143.36. 1,009,673 shares of the company were exchanged. The firm’s 50 day moving average price is $137.07 and its 200 day moving average price is $129.38. The company has a market capitalization of $21.50 billion, a PE ratio of 16.42 and a beta of 1.86. AMERIPRISE FINANCIAL SERVICES, INC. has a one year low of $86.25 and a one year high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a return on equity of 26.54% and a net margin of 11.81%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.23 earnings per share. Equities research analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 earnings per share for the current fiscal year.

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

AMERIPRISE FINANCIAL SERVICES, INC. announced that its board has initiated a stock repurchase plan on Monday, April 24th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “Reliance Trust Co. of Delaware Decreases Stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://theolympiareport.com/2017/08/12/ameriprise-financial-services-inc-nyseamp-stake-reduced-by-reliance-trust-co-of-delaware-updated.html.

Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Royal Bank Of Canada set a $149.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the company a “sector perform” rating in a research note on Wednesday, July 26th. Barclays PLC reaffirmed an “equal weight” rating and issued a $130.00 target price (up previously from $127.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Tuesday, April 25th. SunTrust Banks, Inc. reissued a “hold” rating and set a $127.00 price objective (up previously from $124.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research note on Wednesday, April 26th. Finally, Morgan Stanley lifted their price target on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $146.98.

In related news, insider Charles Neal Maglaque sold 4,728 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $144.57, for a total transaction of $683,526.96. Following the completion of the transaction, the insider now directly owns 24,901 shares of the company’s stock, valued at $3,599,937.57. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman James M. Cracchiolo sold 13,418 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $146.25, for a total value of $1,962,382.50. Following the transaction, the chairman now directly owns 283,891 shares of the company’s stock, valued at $41,519,058.75. The disclosure for this sale can be found here. Insiders have sold 144,891 shares of company stock valued at $20,931,867 in the last quarter. 1.50% of the stock is currently owned by company 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.

Institutional Ownership by Quarter for AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

Receive News & Ratings for AMERIPRISE FINANCIAL SERVICES INC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMERIPRISE FINANCIAL SERVICES INC. and related companies with Analyst Ratings Network's FREE daily email newsletter.