Paloma Partners Management Co trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 82.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,044 shares of the financial services provider’s stock after selling 122,657 shares during the quarter. Paloma Partners Management Co’s holdings in Ameriprise Financial were worth $3,780,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of AMP. Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,951,406 shares of the financial services provider’s stock worth $203,334,000 after purchasing an additional 107,830 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in shares of Ameriprise Financial by 31.3% in the first quarter. Cornerstone Advisors Inc. now owns 470 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 112 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Ameriprise Financial by 39.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,998 shares of the financial services provider’s stock valued at $4,484,000 after purchasing an additional 9,825 shares during the period. Raymond James & Associates boosted its holdings in shares of Ameriprise Financial by 24.7% in the first quarter. Raymond James & Associates now owns 37,591 shares of the financial services provider’s stock valued at $4,815,000 after purchasing an additional 7,454 shares during the period. Finally, Buckingham Capital Management Inc. raised its stake in Ameriprise Financial by 3.6% in the first quarter. Buckingham Capital Management Inc. now owns 10,820 shares of the financial services provider’s stock worth $1,386,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 82.49% of the company’s stock.
A number of equities analysts recently commented on AMP shares. Citigroup reduced their price objective on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Royal Bank of Canada set a $145.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a research report on Friday, July 26th. ValuEngine downgraded Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley cut their target price on Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 20th. Finally, Argus began coverage on Ameriprise Financial in a research report on Friday, July 5th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $174.88.
Shares of AMP stock traded down $0.29 during mid-day trading on Friday, hitting $147.00. 16,680 shares of the stock were exchanged, compared to its average volume of 1,015,727. The firm has a fifty day moving average of $133.16 and a 200 day moving average of $139.87. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $153.91. The company has a market cap of $19.12 billion, a PE ratio of 9.84 and a beta of 1.83.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, beating the Zacks’ consensus estimate of $4.00 by $0.06. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. Ameriprise Financial’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 EPS. Equities analysts predict that Ameriprise Financial, Inc. will post 16.05 EPS for the current year.
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 five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
Further Reading: Why do analysts give a neutral rating?
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