Columbus Macro LLC Acquires New Holdings in Ameriprise Financial, Inc. (AMP)

Columbus Macro LLC acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,586 shares of the financial services provider’s stock, valued at approximately $677,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bridgewater Associates LP lifted its holdings in shares of Ameriprise Financial by 121.6% during the 2nd quarter. Bridgewater Associates LP now owns 13,983 shares of the financial services provider’s stock valued at $1,956,000 after purchasing an additional 7,672 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Ameriprise Financial by 4.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 27,495 shares of the financial services provider’s stock valued at $3,839,000 after purchasing an additional 1,150 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Ameriprise Financial by 1.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 413,087 shares of the financial services provider’s stock valued at $57,783,000 after purchasing an additional 7,577 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Ameriprise Financial by 2.4% during the 2nd quarter. Brown Advisory Inc. now owns 1,149,432 shares of the financial services provider’s stock valued at $160,784,000 after purchasing an additional 27,050 shares during the last quarter. Finally, Standard Life Aberdeen plc lifted its holdings in shares of Ameriprise Financial by 18.5% during the 2nd quarter. Standard Life Aberdeen plc now owns 48,929 shares of the financial services provider’s stock valued at $6,845,000 after purchasing an additional 7,646 shares during the last quarter. Hedge funds and other institutional investors own 81.39% of the company’s stock.

NYSE AMP opened at $135.78 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.69 and a current ratio of 0.69. Ameriprise Financial, Inc. has a 1 year low of $129.87 and a 1 year high of $183.90. The firm has a market capitalization of $20.95 billion, a P/E ratio of 11.07 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.09. Ameriprise Financial had a return on equity of 36.15% and a net margin of 13.91%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm earned $2.80 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 14.68 earnings per share for the current fiscal year.

AMP has been the subject of several analyst reports. Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Friday, October 5th. Barclays decreased their price objective on Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Monday, July 9th. Royal Bank of Canada set a $160.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a report on Friday. Sandler O’Neill set a $150.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a report on Monday, August 13th. Finally, ValuEngine upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $166.63.

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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Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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