Columbus Macro LLC Invests $677,000 in Ameriprise Financial, Inc. (AMP)

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Columbus Macro LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,586 shares of the financial services provider’s stock, valued at approximately $677,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gradient Investments LLC grew its stake in shares of Ameriprise Financial by 89,442.9% during the third quarter. Gradient Investments LLC now owns 62,680 shares of the financial services provider’s stock valued at $9,255,000 after buying an additional 62,610 shares during the last quarter. Montecito Bank & Trust grew its stake in Ameriprise Financial by 34.5% in the third quarter. Montecito Bank & Trust now owns 3,299 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 846 shares in the last quarter. DNB Asset Management AS grew its stake in Ameriprise Financial by 2.3% in the third quarter. DNB Asset Management AS now owns 18,707 shares of the financial services provider’s stock worth $2,762,000 after purchasing an additional 423 shares in the last quarter. Lourd Capital LLC bought a new position in Ameriprise Financial in the third quarter worth approximately $372,000. Finally, Pennsylvania Trust Co grew its stake in Ameriprise Financial by 1.8% in the third quarter. Pennsylvania Trust Co now owns 20,975 shares of the financial services provider’s stock worth $3,098,000 after purchasing an additional 375 shares in the last quarter. 81.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AMP opened at $135.78 on Friday. Ameriprise Financial, Inc. has a 52-week low of $129.87 and a 52-week high of $183.90. The company has a market capitalization of $20.95 billion, a P/E ratio of 11.07 and a beta of 1.80. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.76.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.09. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Ameriprise Financial had a return on equity of 36.15% and a net margin of 13.91%. Ameriprise Financial’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 earnings per share. As a group, equities research analysts predict that Ameriprise Financial, Inc. will post 14.68 earnings per share for the current fiscal year.

Several research analysts recently issued reports on AMP shares. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research note on Friday, October 5th. Barclays dropped their price objective on Ameriprise Financial from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Monday, July 9th. Royal Bank of Canada set a $160.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a research note on Friday. Sandler O’Neill set a $150.00 price objective on Ameriprise Financial and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, ValuEngine raised Ameriprise Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company 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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