Cornerstone Capital Management Holdings LLC. trimmed its stake in shares of Ameriprise Financial Services, Inc. (NYSE:AMP) by 12.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 250,154 shares of the financial services provider’s stock after selling 37,159 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.17% of Ameriprise Financial Services worth $31,841,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in shares of Ameriprise Financial Services by 0.7% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares during the last quarter. Parallel Advisors LLC lifted its position 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 worth $113,000 after buying an additional 116 shares during the last quarter. Sun Life Financial INC lifted its position 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 worth $143,000 after buying an additional 1,111 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Ameriprise Financial Services in the first quarter valued at about $149,000. Finally, Johnson Financial Group Inc. raised its position in Ameriprise Financial Services by 3.3% in the second quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Shares of Ameriprise Financial Services, Inc. (NYSE:AMP) traded up 0.22% on Friday, reaching $152.91. The company’s stock had a trading volume of 736,089 shares. The company’s 50 day moving average price is $142.99 and its 200 day moving average price is $134.43. The company has a market cap of $22.93 billion, a P/E ratio of 17.51 and a beta of 1.88. Ameriprise Financial Services, Inc. has a 12-month low of $86.25 and a 12-month high of $153.75.

Ameriprise Financial Services (NYSE:AMP) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The company 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 earnings per share. Analysts forecast that Ameriprise Financial Services, Inc. will post $11.28 EPS for the current fiscal year.

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AMP has been the subject of several research reports. Citigroup Inc. set a $166.00 target price on Ameriprise Financial Services and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Morgan Stanley increased their target price 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 downgraded Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. BidaskClub upgraded Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, Barclays PLC increased their price target on Ameriprise Financial Services from $130.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $149.31.

In related news, Chairman James M. Cracchiolo sold 13,418 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $146.25, for a total transaction of $1,962,382.50. Following the completion of the transaction, the chairman now directly owns 283,891 shares in the company, valued at $41,519,058.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James M. Cracchiolo sold 39,450 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $144.50, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 182,979 shares of company stock valued at $26,479,126 over the last 90 days. 1.50% of the stock is currently owned by insiders.

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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