AMERIPRISE FINANCIAL SERVICES, INC. (AMP) Shares Bought by Riverhead Capital Management LLC

Riverhead Capital Management LLC grew its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 40.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 51,392 shares of the financial services provider’s stock after buying an additional 14,706 shares during the period. Riverhead Capital Management LLC’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $6,542,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMP. AJO LP acquired a new position in AMERIPRISE FINANCIAL SERVICES, INC. in the second quarter worth about $742,000. Northwestern Mutual Wealth Management Co. raised its position in AMERIPRISE FINANCIAL SERVICES, INC. by 3.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,754 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 108 shares in the last quarter. Capital Fund Management S.A. raised its position in AMERIPRISE FINANCIAL SERVICES, INC. by 2,286.6% in the second quarter. Capital Fund Management S.A. now owns 30,612 shares of the financial services provider’s stock worth $3,897,000 after purchasing an additional 32,012 shares in the last quarter. Johnson Financial Group Inc. raised its position in AMERIPRISE FINANCIAL SERVICES, INC. by 3.3% in the second quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 38 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in AMERIPRISE FINANCIAL SERVICES, INC. by 3.8% in the second quarter. Alliancebernstein L.P. now owns 305,555 shares of the financial services provider’s stock worth $38,894,000 after purchasing an additional 11,155 shares in the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.

Shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE AMP) traded up 2.59% during mid-day trading on Monday, reaching $136.21. 291,437 shares of the company’s stock traded hands. The stock has a market cap of $20.42 billion, a PE ratio of 15.60 and a beta of 1.86. The firm has a 50 day moving average price of $141.14 and a 200-day moving average price of $131.79. AMERIPRISE FINANCIAL SERVICES, INC. has a 12 month low of $86.25 and a 12 month high of $149.99.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last issued its earnings results 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 company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.90 billion. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.81% and a return on equity of 26.54%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 EPS. On average, analysts predict that AMERIPRISE FINANCIAL SERVICES, INC. will post $11.30 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, August 3rd. AMERIPRISE FINANCIAL SERVICES, INC.’s payout ratio is presently 37.81%.

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In other news, insider David Kent Stewart sold 4,945 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $144.21, for a total value of $713,118.45. Following the completion of the transaction, the insider now directly owns 21,969 shares in the company, valued at approximately $3,168,149.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Randy Kupper sold 2,987 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $130.24, for a total transaction of $389,026.88. Following the completion of the transaction, the executive vice president now owns 30,969 shares of the company’s stock, valued at $4,033,402.56. The disclosure for this sale can be found here. Insiders sold a total of 185,966 shares of company stock valued at $26,868,153 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Several research firms recently issued reports on AMP. Royal Bank Of Canada began coverage on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a research report on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 price target for the company. BidaskClub raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 price target for the company in a research report on Thursday, July 27th. Barclays PLC increased their price target on shares of AMERIPRISE FINANCIAL SERVICES, INC. from $130.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, Citigroup Inc. set a $166.00 price target on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $146.87.

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.

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

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