National Pension Service Sells 5,236 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

National Pension Service cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,870 shares of the financial services provider’s stock after selling 5,236 shares during the period. National Pension Service owned approximately 0.14% of Ameriprise Financial worth $26,400,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cornerstone Advisors Inc. lifted its holdings in shares of Ameriprise Financial by 15.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 541 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 71 shares during the period. NEXT Financial Group Inc lifted its holdings in Ameriprise Financial by 46.6% during the 2nd quarter. NEXT Financial Group Inc now owns 236 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 75 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Ameriprise Financial by 1.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,359 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 77 shares during the last quarter. Financial Advisors Network Inc. lifted its holdings in Ameriprise Financial by 3.1% during the 2nd quarter. Financial Advisors Network Inc. now owns 2,864 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 86 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Ameriprise Financial by 2.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,075 shares of the financial services provider’s stock valued at $522,000 after purchasing an additional 87 shares during the last quarter. 82.49% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the stock. Argus assumed coverage on shares of Ameriprise Financial in a report on Friday, July 5th. They set a “buy” rating for the company. Morgan Stanley cut their price target on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a report on Tuesday, August 20th. ValuEngine downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup cut their price target on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Royal Bank of Canada set a $145.00 price target on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $174.88.

Shares of NYSE:AMP traded up $0.71 during trading on Thursday, hitting $148.25. 26,168 shares of the company’s stock were exchanged, compared to its average volume of 1,008,341. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $153.91. The firm has a 50-day moving average price of $133.14 and a two-hundred day moving average price of $139.79. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm has a market cap of $19.22 billion, a P/E ratio of 9.93 and a beta of 1.83.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, topping the consensus estimate of $4.00 by $0.06. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company earned $3.60 EPS. Ameriprise Financial’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict that Ameriprise Financial, Inc. will post 16.05 EPS for the current year.

About Ameriprise Financial

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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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

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