Los Angeles Capital Management & Equity Research Inc. Has $3.75 Million Position in AMERIPRISE FINANCIAL SERVICES, INC. (AMP)

Los Angeles Capital Management & Equity Research Inc. lowered its position in shares of AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 93.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,432 shares of the financial services provider’s stock after selling 447,014 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $3,746,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in AMERIPRISE FINANCIAL SERVICES, INC. by 17.5% during the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 116 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in AMERIPRISE FINANCIAL SERVICES, INC. by 0.7% during the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth approximately $124,000. Meeder Asset Management Inc. acquired a new stake in AMERIPRISE FINANCIAL SERVICES, INC. during the first quarter worth approximately $149,000. Finally, Global X Management Co. LLC boosted its position in AMERIPRISE FINANCIAL SERVICES, INC. by 27.7% during the first quarter. Global X Management Co. LLC now owns 1,288 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) opened at 137.66 on Thursday. The firm has a 50 day moving average of $141.01 and a 200-day moving average of $131.89. AMERIPRISE FINANCIAL SERVICES, INC. has a one year low of $86.25 and a one year high of $149.99. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 15.77 and a beta of 1.86.

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

The company also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $0.83 per share. The ex-dividend date was Thursday, August 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.41%. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio is currently 37.81%.

A number of analysts recently issued reports on AMP shares. Citigroup Inc. set a $166.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Barclays PLC raised their target price 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. Royal Bank Of Canada set a $149.00 target price on shares of AMERIPRISE FINANCIAL SERVICES, INC. and gave the stock a “sector perform” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $156.00 target price on the stock in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $146.87.

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In related news, CEO William F. Truscott sold 19,768 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the transaction, the chief executive officer now directly owns 70,693 shares of the company’s stock, valued at $10,210,189.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president now directly owns 30,969 shares in the company, valued at $4,033,402.56. The disclosure for this sale can be found here. Insiders have sold 185,966 shares of company stock worth $26,868,153 in the last 90 days. 1.50% of the stock is owned by company insiders.

About AMERIPRISE FINANCIAL SERVICES, INC.

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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