Zacks Investment Management buys $26,898,590 stake in Ameriprise Financial (AMP)

Ameriprise Financial (AMP) : Zacks Investment Management scooped up 8,739 additional shares in Ameriprise Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 281,366 shares of Ameriprise Financial which is valued at $26,898,590.Ameriprise Financial makes up approximately 0.79% of Zacks Investment Management’s portfolio.

Other Hedge Funds, Including , Guardian Life Insurance Co Of America reduced its stake in AMP by selling 14 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 630 shares of AMP which is valued at $60,228. Ameriprise Financial makes up approx 0.01% of Guardian Life Insurance Co Of America’s portfolio. Bayesian Capital Management Lp added AMP to its portfolio by purchasing 2,507 company shares during the most recent quarter which is valued at $239,669. Ameriprise Financial makes up approx 0.13% of Bayesian Capital Management Lp’s portfolio.Rafferty Asset Management reduced its stake in AMP by selling 7,019 shares or 29.32% in the most recent quarter. The Hedge Fund company now holds 16,920 shares of AMP which is valued at $1,626,520. Ameriprise Financial makes up approx 0.10% of Rafferty Asset Management’s portfolio.

Ameriprise Financial closed down -1.19 points or -1.18% at $99.89 with 10,62,687 shares getting traded on Thursday. Post opening the session at $101.49, the shares hit an intraday low of $99.34 and an intraday high of $101.71 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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