Clearbridge Lowers stake in Ameriprise Financial (AMP)

Ameriprise Financial (AMP) : Clearbridge reduced its stake in Ameriprise Financial by 0.02% during the most recent quarter end. The investment management company now holds a total of 765,128 shares of Ameriprise Financial which is valued at $73,146,237 after selling 179 shares in Ameriprise Financial , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ameriprise Financial makes up approximately 1.37% of Clearbridge’s portfolio.

Other Hedge Funds, Including , Colony Group boosted its stake in AMP in the latest quarter, The investment management firm added 3,953 additional shares and now holds a total of 9,075 shares of Ameriprise Financial which is valued at $867,570. Ameriprise Financial makes up approx 0.10% of Colony Group’s portfolio.Tcw Group Inc reduced its stake in AMP by selling 953,357 shares or 68.05% in the most recent quarter. The Hedge Fund company now holds 447,544 shares of AMP which is valued at $42,785,206. Ameriprise Financial makes up approx 0.31% of Tcw Group Inc’s portfolio.Blackrock Investment Management boosted its stake in AMP in the latest quarter, The investment management firm added 4,546 additional shares and now holds a total of 432,303 shares of Ameriprise Financial which is valued at $41,328,167. Ameriprise Financial makes up approx 0.05% of Blackrock Investment Management’s portfolio.

Ameriprise Financial opened for trading at $100.16 and hit $100.89 on the upside on Wednesday, eventually ending the session at $100.76, with a gain of 0.10% or 0.1 points. The heightened volatility saw the trading volume jump to 589,352 shares. Company has a market cap of $16,265 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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