Principal Financial Group Inc. Has $74.05 Million Position in Ameriprise Financial Services, Inc. (AMP)

Principal Financial Group Inc. reduced its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 498,625 shares of the financial services provider’s stock after selling 10,108 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Ameriprise Financial Services worth $74,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its holdings in Ameriprise Financial Services by 284.0% in the 2nd 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 during the last quarter. Parallel Advisors LLC lifted its holdings in Ameriprise Financial Services by 17.5% in the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 116 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in Ameriprise Financial Services by 0.7% in the 2nd 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 during the last quarter. Sun Life Financial INC lifted its holdings in Ameriprise Financial Services by 10,100.0% in the 2nd 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 during the last quarter. Finally, Johnson Financial Group Inc. lifted its holdings in Ameriprise Financial Services by 3.3% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 81.45% of the company’s stock.

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In other news, insider John Robert Woerner sold 9,022 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $160.91, for a total transaction of $1,451,730.02. Following the sale, the insider now directly owns 43,167 shares in the company, valued at $6,946,001.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman James M. Cracchiolo sold 42,228 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the sale, the chairman now owns 242,013 shares in the company, valued at $38,559,931.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,167 shares of company stock worth $15,244,202. 1.50% of the stock is currently owned by company insiders.

A number of brokerages have recently commented on AMP. Zacks Investment Research lowered Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Citigroup Inc. set a $166.00 price target on Ameriprise Financial Services and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC upped their price target on Ameriprise Financial Services from $130.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. BidaskClub upgraded Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, SunTrust Banks, Inc. upped their price target on Ameriprise Financial Services from $140.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Ameriprise Financial Services currently has a consensus rating of “Buy” and a consensus price target of $154.20.

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) opened at $157.22 on Monday. The stock has a market capitalization of $23,257.55, a P/E ratio of 13.37 and a beta of 1.92. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. Ameriprise Financial Services, Inc. has a 1 year low of $108.81 and a 1 year high of $163.04.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.33. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. Ameriprise Financial Services’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. analysts predict that Ameriprise Financial Services, Inc. will post 12.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, November 3rd. Ameriprise Financial Services’s dividend payout ratio is presently 30.97%.

About Ameriprise Financial Services

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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