Atria Investments LLC Sells 12,918 Shares of Ameriprise Financial, Inc. (AMP)

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Atria Investments LLC cut its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 70.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,364 shares of the financial services provider’s stock after selling 12,918 shares during the quarter. Atria Investments LLC’s holdings in Ameriprise Financial were worth $750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jacobi Capital Management LLC increased its holdings in shares of Ameriprise Financial by 89.8% during the first quarter. Jacobi Capital Management LLC now owns 875 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 414 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of Ameriprise Financial by 13.6% during the first quarter. Stratos Wealth Partners LTD. now owns 3,569 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 428 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of Ameriprise Financial by 10.1% during the first quarter. IFM Investors Pty Ltd now owns 4,694 shares of the financial services provider’s stock worth $694,000 after purchasing an additional 432 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Ameriprise Financial by 2.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 17,908 shares of the financial services provider’s stock worth $2,649,000 after purchasing an additional 435 shares during the period. Finally, Bbva Compass Bancshares Inc. increased its holdings in shares of Ameriprise Financial by 9.4% during the first quarter. Bbva Compass Bancshares Inc. now owns 5,117 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 441 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Ameriprise Financial opened at $139.53 on Friday, according to Marketbeat Ratings. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.87. The company has a market cap of $20.43 billion, a P/E ratio of 11.37 and a beta of 1.84. Ameriprise Financial, Inc. has a 1 year low of $129.87 and a 1 year high of $183.90.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.46 by $0.24. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.09 billion. Ameriprise Financial had a net margin of 13.59% and a return on equity of 33.67%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $2.52 EPS. equities analysts expect that Ameriprise Financial, Inc. will post 14.44 EPS for the current year.

AMP has been the topic of several recent research reports. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a report on Monday, April 9th. ValuEngine cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Morgan Stanley lowered their target price on shares of Ameriprise Financial from $190.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, April 5th. Sandler O’Neill set a $150.00 target price on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Thursday, April 5th. Finally, SunTrust Banks reduced their price target on shares of Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, April 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $168.00.

In other news, CEO James M. Cracchiolo purchased 7,400 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, May 10th. The shares were acquired at an average price of $136.04 per share, for a total transaction of $1,006,696.00. Following the transaction, the chief executive officer now owns 242,416 shares of the company’s stock, valued at approximately $32,978,272.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Walter Stanley Berman purchased 3,728 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, May 2nd. The shares were purchased at an average price of $134.12 per share, for a total transaction of $499,999.36. Following the transaction, the vice president now directly owns 25,076 shares in the company, valued at approximately $3,363,193.12. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

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.

Further Reading: Relative Strength Index

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

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