Trexquant Investment LP Has $1.16 Million Stake in Ameriprise Financial Services, Inc. (AMP)

Trexquant Investment LP raised its position in Ameriprise Financial Services, Inc. (NYSE:AMP) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,100 shares of the financial services provider’s stock after buying an additional 1,400 shares during the period. Trexquant Investment LP’s holdings in Ameriprise Financial Services were worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Telemus Capital LLC increased its position in Ameriprise Financial Services by 13.6% in the first quarter. Telemus Capital LLC now owns 9,024 shares of the financial services provider’s stock valued at $1,170,000 after buying an additional 1,079 shares during the last quarter. Reliance Trust Co. of Delaware increased its position in Ameriprise Financial Services by 74.5% in the first quarter. Reliance Trust Co. of Delaware now owns 5,060 shares of the financial services provider’s stock valued at $656,000 after buying an additional 2,160 shares during the last quarter. Edmp Inc. increased its position in Ameriprise Financial Services by 1.4% in the first quarter. Edmp Inc. now owns 13,222 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 185 shares during the last quarter. Regent Investment Management LLC increased its position in Ameriprise Financial Services by 4.4% in the first quarter. Regent Investment Management LLC now owns 7,063 shares of the financial services provider’s stock valued at $916,000 after buying an additional 300 shares during the last quarter. Finally, Tompkins Financial Corp increased its position in Ameriprise Financial Services by 815.9% in the first quarter. Tompkins Financial Corp now owns 3,160 shares of the financial services provider’s stock valued at $297,000 after buying an additional 2,815 shares during the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Services, Inc. (AMP) traded up 0.04% on Friday, reaching $138.80. The company’s stock had a trading volume of 1,793,810 shares. Ameriprise Financial Services, Inc. has a 1-year low of $86.25 and a 1-year high of $149.99. The stock has a 50 day moving average price of $139.27 and a 200-day moving average price of $130.37. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of 15.90 and a beta of 1.86.

Ameriprise Financial Services (NYSE:AMP) last released its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Ameriprise Financial Services had a net margin of 11.81% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.23 earnings per share. Equities analysts predict that Ameriprise Financial Services, Inc. will post $11.30 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, August 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is presently 37.81%.

Ameriprise Financial Services announced that its Board of Directors has approved a stock repurchase program on Monday, April 24th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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A number of equities research analysts have commented on AMP shares. Barclays PLC reiterated an “equal weight” rating and set a $130.00 target price (up previously from $127.00) on shares of Ameriprise Financial Services in a report on Tuesday, April 25th. Morgan Stanley increased their target price on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. SunTrust Banks, Inc. restated a “hold” rating and set a $127.00 price objective (up previously from $124.00) on shares of Ameriprise Financial Services in a report on Wednesday, April 26th. BidaskClub upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Zacks Investment Research cut Ameriprise Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $146.98.

In other news, Chairman James M. Cracchiolo sold 39,450 shares of Ameriprise Financial Services stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $144.50, for a total value of $5,700,525.00. Following the completion of the transaction, the chairman now owns 260,887 shares of the company’s stock, valued at approximately $37,698,171.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 19,768 shares of Ameriprise Financial Services stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $144.43, for a total transaction of $2,855,092.24. Following the completion of the transaction, the chief executive officer now directly owns 70,693 shares of the company’s stock, valued at approximately $10,210,189.99. The disclosure for this sale can be found here. In the last three months, insiders sold 185,966 shares of company stock valued at $26,868,153. Insiders own 1.50% of the company’s stock.

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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