Cleararc Capital Inc. Buys 18,077 Shares of AMERIPRISE FINANCIAL SERVICES, INC. (AMP)

Cleararc Capital Inc. raised its stake in AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) by 456.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,037 shares of the company’s stock after buying an additional 18,077 shares during the period. Cleararc Capital Inc.’s holdings in AMERIPRISE FINANCIAL SERVICES, INC. were worth $2,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cipher Capital LP purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the fourth quarter valued at approximately $818,000. Comerica Bank raised its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 11.5% in the fourth quarter. Comerica Bank now owns 78,360 shares of the company’s stock valued at $9,032,000 after buying an additional 8,088 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. during the fourth quarter valued at approximately $317,000. Cadence Bank NA raised its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 6.4% in the fourth quarter. Cadence Bank NA now owns 17,999 shares of the company’s stock valued at $1,996,000 after buying an additional 1,086 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of AMERIPRISE FINANCIAL SERVICES, INC. by 3,558.8% in the fourth quarter. Bessemer Group Inc. now owns 17,306 shares of the company’s stock valued at $1,920,000 after buying an additional 16,833 shares during the last quarter. Hedge funds and other institutional investors own 78.70% of the company’s stock.

Institutional Ownership by Quarter for AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP)

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) traded up 0.47% during midday trading on Friday, hitting $124.31. The company had a trading volume of 1,121,040 shares. AMERIPRISE FINANCIAL SERVICES, INC. has a 1-year low of $80.39 and a 1-year high of $124.85. The firm has a market capitalization of $19.24 billion, a P/E ratio of 15.92 and a beta of 1.77. The company has a 50 day moving average price of $115.30 and a 200 day moving average price of $105.10.

AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP) last posted its quarterly earnings results on Wednesday, February 1st. The company reported $2.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.30. AMERIPRISE FINANCIAL SERVICES, INC. had a net margin of 11.23% and a return on equity of 23.18%. The business earned $3.10 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business posted $2.47 EPS. Equities research analysts forecast that AMERIPRISE FINANCIAL SERVICES, INC. will post $10.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 28th. Shareholders of record on Monday, February 13th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, February 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.41%. AMERIPRISE FINANCIAL SERVICES, INC.’s dividend payout ratio (DPR) is 38.36%.

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Several brokerages recently commented on AMP. Zacks Investment Research raised AMERIPRISE FINANCIAL SERVICES, INC. from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Monday, February 6th. Citigroup Inc. assumed coverage on AMERIPRISE FINANCIAL SERVICES, INC. in a report on Thursday, January 26th. They set a “buy” rating and a $139.00 price target for the company. Credit Suisse Group raised AMERIPRISE FINANCIAL SERVICES, INC. from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $121.00 to $152.00 in a report on Monday, January 9th. They noted that the move was a valuation call. Deutsche Bank AG reissued a “hold” rating and set a $127.00 price target (up previously from $120.00) on shares of AMERIPRISE FINANCIAL SERVICES, INC. in a report on Wednesday, January 25th. Finally, SunTrust Banks, Inc. lowered AMERIPRISE FINANCIAL SERVICES, INC. from a “buy” rating to a “hold” rating and boosted their price target for the company from $110.00 to $120.00 in a report on Monday, December 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $122.00.

In related news, CEO William F. Truscott sold 16,831 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $122.95, for a total value of $2,069,371.45. Following the sale, the chief executive officer now directly owns 21,172 shares in the company, valued at approximately $2,603,097.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kelli A. Hunter sold 4,152 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $123.36, for a total transaction of $512,190.72. Following the completion of the sale, the vice president now owns 29,913 shares in the company, valued at $3,690,067.68. The disclosure for this sale can be found here. Insiders have sold a total of 47,101 shares of company stock worth $5,733,970 over the last 90 days. 1.40% of the stock is owned by insiders.

About AMERIPRISE FINANCIAL SERVICES, INC.

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.

5 Day Chart for NYSE:AMP

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMERIPRISE FINANCIAL SERVICES, INC. (NYSE:AMP).

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