Ridgeworth Capital Management buys $167.7 Million stake in Ameriprise Financial (AMP)

Ameriprise Financial (AMP) : Ridgeworth Capital Management scooped up 268,145 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 1,787,688 shares of Ameriprise Financial which is valued at $167.7 Million.Ameriprise Financial makes up approximately 1.49% of Ridgeworth Capital Management’s portfolio.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. added AMP to its portfolio by purchasing 34,556 company shares during the most recent quarter which is valued at $3.2 Million. Ameriprise Financial makes up approx 0.40% of Landscape Capital Management L.l.c.’s portfolio.Utah Retirement Systems reduced its stake in AMP by selling 1,700 shares or 5.23% in the most recent quarter. The Hedge Fund company now holds 30,834 shares of AMP which is valued at $2.9 Million. Ameriprise Financial makes up approx 0.08% of Utah Retirement Systems’s portfolio.Trilogy Global Advisors Lp boosted its stake in AMP in the latest quarter, The investment management firm added 37,310 additional shares and now holds a total of 299,124 shares of Ameriprise Financial which is valued at $28.1 Million. Ameriprise Financial makes up approx 0.80% of Trilogy Global Advisors Lp’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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