First Business Financial Services Inc. Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

First Business Financial Services Inc. lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,735 shares of the financial services provider’s stock after selling 75 shares during the quarter. First Business Financial Services Inc.’s holdings in Ameriprise Financial were worth $687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMP. MV Capital Management Inc. boosted its holdings in shares of Ameriprise Financial by 81.5% during the 1st quarter. MV Capital Management Inc. now owns 196 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 88 shares during the last quarter. Farmers National Bank purchased a new position in shares of Ameriprise Financial in the first quarter worth approximately $31,000. Hanson McClain Inc. boosted its holdings in shares of Ameriprise Financial by 232.0% in the first quarter. Hanson McClain Inc. now owns 249 shares of the financial services provider’s stock worth $32,000 after buying an additional 174 shares during the last quarter. NEXT Financial Group Inc boosted its holdings in shares of Ameriprise Financial by 46.6% in the second quarter. NEXT Financial Group Inc now owns 236 shares of the financial services provider’s stock worth $34,000 after buying an additional 75 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth approximately $36,000. 80.91% of the stock is currently owned by hedge funds and other institutional investors.

In other Ameriprise Financial news, EVP Randy Kupper sold 5,160 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $150.38, for a total transaction of $775,960.80. Following the sale, the executive vice president now owns 23,656 shares in the company, valued at approximately $3,557,389.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

A number of equities analysts recently issued reports on AMP shares. Barclays raised their price objective on shares of Ameriprise Financial from $146.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Credit Suisse Group raised shares of Ameriprise Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $145.00 to $202.00 in a report on Monday, May 13th. UBS Group dropped their price objective on shares of Ameriprise Financial from $178.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $173.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Ameriprise Financial has a consensus rating of “Buy” and a consensus price target of $173.56.

NYSE AMP opened at $135.30 on Friday. Ameriprise Financial, Inc. has a 12 month low of $95.69 and a 12 month high of $153.91. The company has a market cap of $19.48 billion, a PE ratio of 9.06 and a beta of 1.80. The business’s 50 day moving average price is $148.37. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 0.78.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $0.06. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the business earned $3.60 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Ameriprise Financial, Inc. will post 16.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, August 2nd. Ameriprise Financial’s payout ratio is 25.97%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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

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