Bank of Nova Scotia Decreases Position in Ameriprise Financial Services, Inc. (AMP)

Bank of Nova Scotia trimmed its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 35.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,640 shares of the financial services provider’s stock after selling 65,845 shares during the period. Bank of Nova Scotia owned 0.08% of Ameriprise Financial Services worth $15,229,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in Ameriprise Financial Services by 0.7% in 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 purchasing an additional 6 shares in the last quarter. Parallel Advisors LLC grew its stake in Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 116 shares in the last quarter. IHT Wealth Management LLC grew its stake in Ameriprise Financial Services by 284.0% in the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 230 shares in the last quarter. Sun Life Financial INC grew its stake in Ameriprise Financial Services by 10,100.0% in the second quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Ameriprise Financial Services in the first quarter worth about $149,000. Institutional investors and hedge funds own 79.39% of the company’s stock.

In other Ameriprise Financial Services news, CEO William F. Truscott sold 19,768 shares of the company’s stock in a transaction dated 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 sale, 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 available through this link. Also, VP Karen Wilson Thissen sold 425 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $145.15, for a total transaction of $61,688.75. Following the sale, the vice president now directly owns 10,956 shares in the company, valued at $1,590,263.40. The disclosure for this sale can be found here. Insiders have sold 182,979 shares of company stock worth $26,479,126 over the last ninety days. Insiders own 1.50% of the company’s stock.

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A number of equities analysts recently commented on the company. Royal Bank Of Canada assumed coverage on Ameriprise Financial Services in a research note on Thursday, June 29th. They issued a “sector perform” rating and a $135.00 price target for the company. Zacks Investment Research downgraded Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Morgan Stanley lifted their price target on Ameriprise Financial Services from $152.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Finally, Barclays PLC lifted their price target on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $149.31.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share.

Ameriprise Financial Services 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 (NYSE:AMP)

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