Today, Penserra Capital Management LLC Buys 2,390 Shares of Ameriprise Financial Services Inc. (AMP)

Today, Penserra Capital Management LLC Buys 2,390  Shares of Ameriprise Financial Services Inc. (AMP)
Penserra Capital Management LLC purchased a new stake in Ameriprise Financial Services Inc. (NYSE:AMP) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,390 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Babson Capital Management LLC increased its position in Ameriprise Financial Services by 187.9% in the first quarter. Babson Capital Management LLC now owns 11,031 shares of the company’s stock valued at $1,037,000 after buying an additional 7,200 shares during the last quarter. Royal Bank of Canada increased its position in Ameriprise Financial Services by 60.4% in the first quarter. Royal Bank of Canada now owns 462,938 shares of the company’s stock valued at $43,521,000 after buying an additional 174,263 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Ameriprise Financial Services by 7.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,686 shares of the company’s stock valued at $725,000 after buying an additional 505 shares during the last quarter. First Republic Investment Management Inc. increased its position in Ameriprise Financial Services by 170.7% in the first quarter. First Republic Investment Management Inc. now owns 29,792 shares of the company’s stock valued at $2,802,000 after buying an additional 18,786 shares during the last quarter. Finally, Cullinan Associates Inc. increased its position in Ameriprise Financial Services by 1.2% in the first quarter. Cullinan Associates Inc. now owns 8,290 shares of the company’s stock valued at $779,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 79.37% of the company’s stock.

Shares of Ameriprise Financial Services Inc. (NYSE:AMP) traded up 0.68% during trading on Friday, hitting $114.46. The stock had a trading volume of 338,037 shares. The company’s 50 day moving average price is $100.29 and its 200 day moving average price is $97.88. Ameriprise Financial Services Inc. has a 12 month low of $76.00 and a 12 month high of $115.50. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 15.52 and a beta of 1.67.

Ameriprise Financial Services (NYSE:AMP) last released its quarterly earnings data on Tuesday, October 25th. The company reported $2.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.42 by $0.13. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.86 billion. Ameriprise Financial Services had a return on equity of 21.48% and a net margin of 10.83%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $2.35 EPS. Equities research analysts expect that Ameriprise Financial Services Inc. will post $8.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Thursday, November 3rd. Ameriprise Financial Services’s dividend payout ratio (DPR) is currently 40.76%.

A number of research analysts have recently commented on the company. Deutsche Bank AG increased their target price on Ameriprise Financial Services from $106.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Morgan Stanley restated a “buy” rating and issued a $120.00 price target on shares of Ameriprise Financial Services in a research report on Thursday, July 28th. Zacks Investment Research upgraded Ameriprise Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 21st. Credit Suisse Group AG started coverage on Ameriprise Financial Services in a research report on Friday, October 7th. They issued a “neutral” rating and a $116.00 price target for the company. Finally, Oppenheimer Holdings Inc. downgraded Ameriprise Financial Services to an “underweight” rating in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $111.33.

In other Ameriprise Financial Services news, VP John Carl Junek sold 4,683 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $100.30, for a total transaction of $469,704.90. Following the transaction, the vice president now owns 37,766 shares of the company’s stock, valued at $3,787,929.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Robert Woerner sold 4,513 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $100.71, for a total value of $454,504.23. Following the transaction, the insider now directly owns 39,443 shares in the company, valued at approximately $3,972,304.53. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

About Ameriprise Financial Services

Ameriprise Financial, Inc is a diversified 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 Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors.

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