Bridges Investment Management Inc. cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,845 shares of the financial services provider’s stock after selling 6,268 shares during the quarter. Bridges Investment Management Inc.’s holdings in Ameriprise Financial were worth $7,812,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. HPM Partners LLC grew its position in Ameriprise Financial by 7.8% during the second quarter. HPM Partners LLC now owns 13,407 shares of the financial services provider’s stock valued at $1,875,000 after buying an additional 968 shares during the period. Soros Fund Management LLC grew its position in Ameriprise Financial by 19.4% during the second quarter. Soros Fund Management LLC now owns 50,247 shares of the financial services provider’s stock valued at $7,029,000 after buying an additional 8,171 shares during the period. Worldquant Millennium Quantitative Strategies LLC bought a new stake in Ameriprise Financial during the second quarter valued at approximately $5,337,000. Banco de Sabadell S.A grew its position in Ameriprise Financial by 9.6% during the second quarter. Banco de Sabadell S.A now owns 7,154 shares of the financial services provider’s stock valued at $996,000 after buying an additional 624 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Ameriprise Financial by 15.5% during the second quarter. Tower Research Capital LLC TRC now owns 12,102 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 1,628 shares during the period. Hedge funds and other institutional investors own 81.39% of the company’s stock.
Shares of AMP stock traded down $2.22 during mid-day trading on Friday, hitting $149.75. The company had a trading volume of 682,972 shares, compared to its average volume of 1,025,883. Ameriprise Financial, Inc. has a 52-week low of $129.87 and a 52-week high of $183.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $20.95 billion, a PE ratio of 12.20 and a beta of 1.80.
Ameriprise Financial (NYSE:AMP) last released its earnings results on Tuesday, July 24th. The financial services provider reported $3.60 EPS for the quarter, topping the consensus estimate of $3.51 by $0.09. Ameriprise Financial had a net margin of 13.91% and a return on equity of 36.15%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that Ameriprise Financial, Inc. will post 14.68 EPS for the current fiscal year.
Several analysts recently issued reports on AMP shares. ValuEngine upgraded shares of Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $175.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. Credit Suisse Group lowered their price target on shares of Ameriprise Financial from $154.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Barclays lowered their price target on shares of Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating on the stock in a report on Monday, July 9th. Finally, Zacks Investment Research downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $166.38.
Ameriprise Financial Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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