Ameriprise Financial Services, Inc. (AMP) Holdings Cut by Laffer Investments

Laffer Investments reduced its position in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,380 shares of the financial services provider’s stock after selling 1,005 shares during the quarter. Laffer Investments’ holdings in Ameriprise Financial Services were worth $2,136,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. IHT Wealth Management LLC grew its holdings in shares of Ameriprise Financial Services by 284.0% during the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 230 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Ameriprise Financial Services by 17.5% during the 2nd quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 116 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of Ameriprise Financial Services by 10,100.0% during the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,111 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in shares of Ameriprise Financial Services by 3.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 38 shares in the last quarter. Finally, Wesbanco Bank Inc. purchased a new position in shares of Ameriprise Financial Services during the 3rd quarter valued at $200,000. 81.74% of the stock is currently owned by institutional investors.

Shares of Ameriprise Financial Services, Inc. (NYSE AMP) opened at $166.42 on Thursday. The stock has a market cap of $24,941.00, a price-to-earnings ratio of 14.34 and a beta of 1.93. Ameriprise Financial Services, Inc. has a fifty-two week low of $109.19 and a fifty-two week high of $170.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82.

Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.33. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.75%. Ameriprise Financial Services’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. analysts anticipate 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 issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is 30.97%.

In other Ameriprise Financial Services news, insider David Kent Stewart sold 603 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $160.72, for a total transaction of $96,914.16. Following the completion of the sale, the insider now directly owns 20,081 shares in the company, valued at $3,227,418.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Edward Sweeney sold 7,329 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $169.47, for a total transaction of $1,242,045.63. Following the sale, the insider now owns 37,991 shares of the company’s stock, valued at $6,438,334.77. The disclosure for this sale can be found here. Insiders have sold 67,649 shares of company stock valued at $10,882,637 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Several research firms have recently commented on AMP. ValuEngine cut shares of Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. SunTrust Banks boosted their price target on shares of Ameriprise Financial Services from $140.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Royal Bank of Canada set a $155.00 price target on shares of Ameriprise Financial Services and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a report on Thursday, October 5th. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial Services from $152.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $154.20.

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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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