Northwest Bancshares Inc. Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

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Northwest Bancshares Inc. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% in the third quarter, Holdings Channel reports. The fund owned 20,201 shares of the financial services provider’s stock after purchasing an additional 968 shares during the quarter. Northwest Bancshares Inc.’s holdings in Ameriprise Financial were worth $2,972,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 2.1% in the second quarter. JPMorgan Chase & Co. now owns 5,172,370 shares of the financial services provider’s stock worth $744,976,000 after acquiring an additional 107,918 shares during the period. Man Group plc lifted its stake in Ameriprise Financial by 82.3% in the second quarter. Man Group plc now owns 2,084,864 shares of the financial services provider’s stock worth $302,638,000 after acquiring an additional 941,409 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Ameriprise Financial by 9.3% in the second quarter. UBS Asset Management Americas Inc. now owns 1,926,618 shares of the financial services provider’s stock worth $279,668,000 after acquiring an additional 164,258 shares during the period. Northern Trust Corp lifted its stake in Ameriprise Financial by 0.6% in the second quarter. Northern Trust Corp now owns 1,699,557 shares of the financial services provider’s stock worth $246,708,000 after acquiring an additional 10,775 shares during the period. Finally, Bank of Montreal Can lifted its stake in Ameriprise Financial by 77.4% in the second quarter. Bank of Montreal Can now owns 1,348,596 shares of the financial services provider’s stock worth $195,763,000 after acquiring an additional 588,510 shares during the period. 82.49% of the stock is owned by institutional investors.

AMP has been the subject of several analyst reports. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. UBS Group decreased their price target on shares of Ameriprise Financial from $178.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Argus initiated coverage on shares of Ameriprise Financial in a research report on Friday, July 5th. They set a “buy” rating for the company. Citigroup decreased their price target on shares of Ameriprise Financial from $178.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, ValuEngine lowered shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $174.88.

Shares of AMP stock traded up $2.97 during mid-day trading on Wednesday, hitting $132.18. 16,685 shares of the stock traded hands, compared to its average volume of 980,180. The stock has a market cap of $17.82 billion, a P/E ratio of 8.83 and a beta of 1.85. The stock’s fifty day moving average is $137.06 and its two-hundred day moving average is $141.23. Ameriprise Financial, Inc. has a 52-week low of $95.69 and a 52-week high of $153.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.78 and a quick ratio of 0.78.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $4.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.00 by $0.06. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $2.93 billion. Ameriprise Financial had a net margin of 15.03% and a return on equity of 37.73%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 earnings per share. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 16.05 EPS for the current fiscal 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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