Great Lakes Advisors buys $52.9 Million stake in Ameriprise Financial (AMP)

Ameriprise Financial (AMP) : Great Lakes Advisors scooped up 170,179 additional shares in Ameriprise Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 564,231 shares of Ameriprise Financial which is valued at $52.9 Million.Ameriprise Financial makes up approximately 1.46% of Great Lakes Advisors’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in AMP in the latest quarter, The investment management firm added 1,684 additional shares and now holds a total of 7,006 shares of Ameriprise Financial which is valued at $657,373. Ameriprise Financial makes up approx 0.06% of Amalgamated Bank’s portfolio.Wetherby Asset Management Inc reduced its stake in AMP by selling 110 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 3,237 shares of AMP which is valued at $303,728. Ameriprise Financial makes up approx 0.07% of Wetherby Asset Management Inc’s portfolio.Ls Investment Advisors boosted its stake in AMP in the latest quarter, The investment management firm added 209 additional shares and now holds a total of 5,653 shares of Ameriprise Financial which is valued at $530,421. Ameriprise Financial makes up approx 0.04% of Ls Investment Advisors’s portfolio.Tealwood Asset Management Inc reduced its stake in AMP by selling 1,030 shares or 7.44% in the most recent quarter. The Hedge Fund company now holds 12,805 shares of AMP which is valued at $1.2 Million. Ameriprise Financial makes up approx 0.54% of Tealwood Asset Management Inc’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in AMP in the latest quarter, The investment management firm added 17,411 additional shares and now holds a total of 344,036 shares of Ameriprise Financial which is valued at $33 Million. Ameriprise Financial makes up approx 0.10% of Mizuho Trust Banking Ltd.’s portfolio.

Ameriprise Financial opened for trading at $93.79 and hit $95.17 on the upside on Monday, eventually ending the session at $94.56, with a gain of 0.78% or 0.73 points. The heightened volatility saw the trading volume jump to 10,08,373 shares. Company has a market cap of $15,679 M.

On the company’s financial health, Ameriprise Financial reported $2.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $2.18. The company had revenue of $2788.00 million for the quarter, compared to analysts expectations of $2853.16 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.18 EPS.

Many Wall Street Analysts have commented on Ameriprise Financial. Shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform” and Lowered the Price Target to $ 121 from a previous price target of $122 .

Ameriprise Financial Inc. (Ameriprise Financial) is a holding company primarily engaged in business through its subsidiaries. Ameriprise Financial is a diversified financial services company that offers financial solutions to individual and institutional clients. The Company operates in four segments: Advice & Wealth Management Asset Management Annuities and Protection. The Advice & Wealth Management segment provides financial planning and advice as well as full-service brokerage services primarily to retail clients through advisors. The Asset Management segment provides investment advice and investment products to retail high net worth and institutional clients on a global scale through Columbia Management and Threadneedle. The Annuities segment provides variable and fixed annuity products of RiverSource Life companies to individual clients. The Protection segment offers a variety of products to address the protection and risk management needs of retail clients.

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