Ameriprise Financial Services, Inc. (NYSE:AMP) Chairman James M. Cracchiolo sold 13,418 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $146.25, for a total transaction of $1,962,382.50. Following the transaction, the chairman now directly owns 283,891 shares in the company, valued at $41,519,058.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ameriprise Financial Services, Inc. (NYSE:AMP) traded down 0.37% on Monday, hitting $147.29. 1,234,536 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $133.12 and a 200-day moving average price of $127.79. Ameriprise Financial Services, Inc. has a 52-week low of $86.25 and a 52-week high of $148.51. The stock has a market cap of $22.14 billion, a P/E ratio of 16.87 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the business posted $2.23 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts predict that Ameriprise Financial Services, Inc. will post $11.29 earnings per share for the current fiscal year.

Ameriprise Financial Services announced that its Board of Directors has approved a share buyback plan 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 reacquire up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 37.81%.

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Several hedge funds have recently made changes to their positions in AMP. BlackRock Inc. boosted its stake in shares of Ameriprise Financial Services by 1,709.0% in the first quarter. BlackRock Inc. now owns 10,640,305 shares of the financial services provider’s stock worth $1,379,836,000 after buying an additional 10,052,130 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial Services by 71.8% in the first quarter. JPMorgan Chase & Co. now owns 5,939,366 shares of the financial services provider’s stock worth $770,216,000 after buying an additional 2,481,827 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Ameriprise Financial Services by 54.6% in the first quarter. Bank of New York Mellon Corp now owns 3,906,928 shares of the financial services provider’s stock worth $506,651,000 after buying an additional 1,380,098 shares during the period. FMR LLC boosted its stake in shares of Ameriprise Financial Services by 115.7% in the first quarter. FMR LLC now owns 918,638 shares of the financial services provider’s stock worth $119,130,000 after buying an additional 492,785 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Ameriprise Financial Services by 21.6% in the second quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock worth $242,543,000 after buying an additional 338,452 shares during the period. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Several research analysts recently issued reports on the stock. Deutsche Bank AG reissued a “hold” rating and set a $140.00 target price (up from $137.00) on shares of Ameriprise Financial Services in a research note on Thursday, April 20th. BidaskClub raised shares of Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Monday, April 10th. Barclays PLC reissued an “equal weight” rating and set a $130.00 target price (up from $127.00) on shares of Ameriprise Financial Services in a research note on Tuesday, April 25th. Finally, Morgan Stanley increased their target price 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. One equities 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 issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $145.64.

About Ameriprise Financial Services

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.

Insider Buying and Selling by Quarter for Ameriprise Financial Services (NYSE:AMP)

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