Rothschild Asset Management Inc. Lowers Stake in Ameriprise Financial Services, Inc. (AMP)

Rothschild Asset Management Inc. trimmed its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 1.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,847 shares of the financial services provider’s stock after selling 4,728 shares during the quarter. Rothschild Asset Management Inc. owned 0.18% of Ameriprise Financial Services worth $39,035,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. IHT Wealth Management LLC raised its position in shares of Ameriprise Financial Services by 284.0% during 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 during the period. Parallel Advisors LLC raised its position in shares of Ameriprise Financial Services 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 purchasing an additional 116 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Ameriprise Financial Services 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 purchasing an additional 6 shares during the period. Sun Life Financial INC raised its position in shares of Ameriprise Financial Services by 10,100.0% during 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 during the period. Finally, Johnson Financial Group Inc. raised its position in shares of Ameriprise Financial Services by 3.3% during the second 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 period. 80.87% of the stock is currently owned by institutional investors.

A number of research firms recently commented on AMP. Royal Bank Of Canada set a $155.00 price target on Ameriprise Financial Services and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. SunTrust Banks, Inc. increased their price target on Ameriprise Financial Services from $140.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Morgan Stanley increased their price target on Ameriprise Financial Services from $152.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 5th. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research report on Thursday, October 5th. Finally, Barclays PLC reissued an “equal weight” rating on shares of Ameriprise Financial Services in a research report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $154.20.

Shares of Ameriprise Financial Services, Inc. (AMP) traded up $2.37 during trading on Tuesday, hitting $160.65. The stock had a trading volume of 792,800 shares, compared to its average volume of 1,037,278. Ameriprise Financial Services, Inc. has a 1 year low of $109.19 and a 1 year high of $163.04. The stock has a market cap of $23,410.00, a price-to-earnings ratio of 13.46 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 (NYSE:AMP) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.33. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.97 billion. Ameriprise Financial Services had a return on equity of 29.75% and a net margin of 14.24%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.29 EPS. equities analysts forecast 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. Stockholders of record on Monday, November 6th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $3.32 annualized dividend and a dividend yield of 2.07%. Ameriprise Financial Services’s payout ratio is 31.00%.

In other news, COO Charles Neal Maglaque sold 1,754 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $161.01, for a total transaction of $282,411.54. Following the completion of the transaction, the chief operating officer now owns 14,697 shares in the company, valued at approximately $2,366,363.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James M. Cracchiolo sold 42,228 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $159.33, for a total value of $6,728,187.24. Following the transaction, the chairman now owns 242,013 shares of the company’s stock, valued at approximately $38,559,931.29. The disclosure for this sale can be found here. Insiders have sold a total of 59,717 shares of company stock valued at $9,543,677 in the last quarter. 1.50% of the stock is owned by corporate insiders.

WARNING: This report was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://ledgergazette.com/2017/11/21/rothschild-asset-management-inc-lowers-stake-in-ameriprise-financial-services-inc-amp.html.

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)

Receive News & Ratings for Ameriprise Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply