Ameriprise Financial Services, Inc. (NYSE:AMP) Chairman James M. Cracchiolo sold 39,450 shares of the business’s stock in a transaction on 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 owns 260,887 shares in the company, valued at approximately $37,698,171.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) traded down 1.06% during midday trading on Wednesday, reaching $143.36. The company’s stock had a trading volume of 810,886 shares. The firm’s 50 day moving average is $138.17 and its 200 day moving average is $130.03. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 16.42 and a beta of 1.86. Ameriprise Financial Services, Inc. has a 52 week low of $86.25 and a 52 week high of $149.99.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.18. The company 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.23 earnings per share. Equities analysts forecast that Ameriprise Financial Services, Inc. will post $11.30 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio is presently 37.81%.

Ameriprise Financial Services declared that its Board of Directors has approved a share buyback program on Monday, April 24th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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Several equities research analysts recently issued reports on AMP shares. BidaskClub upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective on the stock in a report on Thursday, July 27th. Barclays PLC boosted their price objective on Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $127.00 price objective (up previously from $124.00) on shares of Ameriprise Financial Services in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Ameriprise Financial Services has an average rating of “Buy” and a consensus price target of $146.98.

Hedge funds and other institutional investors have recently modified their holdings of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of 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 worth $108,000 after buying an additional 4 shares in the last quarter. Intrust Bank NA boosted its position in shares of Ameriprise Financial Services by 0.7% in the second quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock worth $228,000 after buying an additional 12 shares in the last quarter. RMB Capital Management LLC boosted its position in shares of Ameriprise Financial Services by 0.9% in the first quarter. RMB Capital Management LLC now owns 1,917 shares of the financial services provider’s stock worth $249,000 after buying an additional 17 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Ameriprise Financial Services by 0.5% in the second quarter. Stratos Wealth Partners LTD. now owns 3,472 shares of the financial services provider’s stock worth $442,000 after buying an additional 17 shares in the last quarter. Finally, Savant Capital LLC boosted its position in shares of Ameriprise Financial Services by 0.7% in the first quarter. Savant Capital LLC now owns 3,067 shares of the financial services provider’s stock worth $398,000 after buying an additional 20 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.

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.

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

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