State Of New Jersey Common Pension Fund D Lowers stake in Ameriprise Financial (AMP)

Ameriprise Financial (AMP) : State Of New Jersey Common Pension Fund D reduced its stake in Ameriprise Financial by 4.78% during the most recent quarter end. The investment management company now holds a total of 797,000 shares of Ameriprise Financial which is valued at $75,563,570 after selling 40,000 shares in Ameriprise Financial , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Ameriprise Financial makes up approximately 0.33% of State Of New Jersey Common Pension Fund D’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp added AMP to its portfolio by purchasing 67,276 company shares during the most recent quarter which is valued at $6,378,438. Ameriprise Financial makes up approx 0.66% of Quantbot Technologies Lp’s portfolio.Boston Private Wealth boosted its stake in AMP in the latest quarter, The investment management firm added 3,631 additional shares and now holds a total of 65,986 shares of Ameriprise Financial which is valued at $6,256,133. Ameriprise Financial makes up approx 0.25% of Boston Private Wealth’s portfolio. Spectrum Management Group sold out all of its stake in AMP during the most recent quarter. The investment firm sold 75 shares of AMP which is valued $7,188.Creative Planning boosted its stake in AMP in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 3,386 shares of Ameriprise Financial which is valued at $317,776.

Ameriprise Financial opened for trading at $96.54 and hit $97.49 on the upside on Monday, eventually ending the session at $96.81, with a gain of 0.30% or 0.29 points. The heightened volatility saw the trading volume jump to 5,68,417 shares. Company has a market cap of $15,627 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 Downgraded by RBC Capital Mkts on Jul 25, 2016 to ” Sector Perform” and Lowered the Price Target to $ 98 from a previous price target of $121 .

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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