State Board of Administration of Florida Retirement System Increases Stake in Ameriprise Financial Services, Inc. (NYSE:AMP)

State Board of Administration of Florida Retirement System grew its stake in Ameriprise Financial Services, Inc. (NYSE:AMP) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,057 shares of the financial services provider’s stock after buying an additional 1,980 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.16% of Ameriprise Financial Services worth $34,760,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AMP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in 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 valued at $106,000 after buying an additional 6 shares during the last quarter. Intrust Bank NA boosted its stake in Ameriprise Financial Services by 0.7% during the second quarter. Intrust Bank NA now owns 1,793 shares of the financial services provider’s stock valued at $228,000 after buying an additional 12 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Ameriprise Financial Services by 0.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,472 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 17 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Ameriprise Financial Services by 0.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 9,097 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 29 shares during the last quarter. Finally, National Asset Management Inc. lifted its stake in shares of Ameriprise Financial Services by 1.0% in the 2nd quarter. National Asset Management Inc. now owns 3,165 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 81.45% of the company’s stock.

In other Ameriprise Financial Services news, EVP Colin Moore sold 4,285 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $161.09, for a total transaction of $690,270.65. Following the transaction, the executive vice president now owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Robert Woerner sold 9,022 shares of the stock in a transaction dated 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 owns 43,167 shares of the company’s stock, valued at approximately $6,946,001.97. The disclosure for this sale can be found here. Insiders sold 59,717 shares of company stock worth $9,543,677 over the last quarter. 1.50% of the stock is currently owned by insiders.

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Several research firms have recently issued reports on AMP. Barclays PLC reaffirmed an “equal weight” rating on shares of Ameriprise Financial Services in a research note on Monday, October 2nd. Morgan Stanley raised their price target on Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Friday, September 1st. BidaskClub cut Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, Royal Bank Of Canada set a $149.00 price target on Ameriprise Financial Services and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ameriprise Financial Services has a consensus rating of “Buy” and an average price target of $154.20.

Ameriprise Financial Services, Inc. (AMP) traded down $0.21 during trading hours on Wednesday, reaching $157.11. The company’s stock had a trading volume of 686,300 shares, compared to its average volume of 1,042,490. Ameriprise Financial Services, Inc. has a 52 week low of $109.19 and a 52 week high of $163.04. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. The stock has a market cap of $23,272.35, a price-to-earnings ratio of 13.38 and a beta of 1.92.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.33. The company 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%. 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 earned $2.29 EPS. analysts anticipate that Ameriprise Financial Services, Inc. will post 12.14 earnings per share for the current year.

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