Renaissance Group LLC Acquires 218,179 Shares of Ameriprise Financial Services, Inc. (AMP)

Renaissance Group LLC increased its holdings in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 12,127.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,978 shares of the financial services provider’s stock after purchasing an additional 218,179 shares during the quarter. Renaissance Group LLC owned approximately 0.15% of Ameriprise Financial Services worth $32,669,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Ameriprise Financial Services by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,576 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 592 shares during the last quarter. Karpas Strategies LLC acquired a new position in Ameriprise Financial Services during the third quarter worth $226,000. AE Wealth Management LLC acquired a new position in Ameriprise Financial Services during the third quarter worth $251,000. Columbus Circle Investors acquired a new position in Ameriprise Financial Services during the third quarter worth $14,449,000. Finally, Buckingham Capital Management Inc. boosted its holdings in Ameriprise Financial Services by 3.6% during the third quarter. Buckingham Capital Management Inc. now owns 12,190 shares of the financial services provider’s stock worth $1,810,000 after purchasing an additional 420 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.

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Ameriprise Financial Services, Inc. (NYSE AMP) traded up $2.37 during midday trading on Tuesday, reaching $160.65. 792,800 shares of the company’s stock traded hands, compared to its average volume of 1,037,278. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.67 and a quick ratio of 0.67. Ameriprise Financial Services, Inc. has a 1 year low of $109.19 and a 1 year high of $163.04. The company has a market capitalization of $23,410.00, a price-to-earnings ratio of 13.46 and a beta of 1.92.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.33. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.75%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. sell-side analysts expect that Ameriprise Financial Services, Inc. will post 12.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 31.00%.

Several brokerages recently commented on AMP. Barclays PLC restated an “equal weight” rating on shares of Ameriprise Financial Services in a report on Monday, October 2nd. 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 report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a report on Friday, September 1st. BidaskClub cut shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Finally, Royal Bank Of Canada set a $149.00 target price on shares of Ameriprise Financial Services and gave the stock a “hold” rating in a report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ameriprise Financial Services presently has a consensus rating of “Buy” and an average target price of $154.20.

In other news, EVP Colin Moore sold 4,285 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $161.09, for a total value of $690,270.65. Following the transaction, the executive vice president now directly owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Robert Woerner sold 9,022 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $160.91, for a total transaction of $1,451,730.02. Following the completion of the transaction, the insider now directly owns 43,167 shares in the company, valued at $6,946,001.97. The disclosure for this sale can be found here. Insiders have sold 59,717 shares of company stock worth $9,543,677 over the last ninety days. Insiders own 1.50% 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.

Institutional Ownership by Quarter for Ameriprise Financial Services (NYSE:AMP)

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