Guggenheim Capital LLC Raises Holdings in Ameriprise Financial, Inc. (AMP)

Guggenheim Capital LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 263,394 shares of the financial services provider’s stock after purchasing an additional 22,836 shares during the quarter. Guggenheim Capital LLC owned about 0.18% of Ameriprise Financial worth $38,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Counselors Inc. boosted its stake in Ameriprise Financial by 0.4% during the 4th quarter. Financial Counselors Inc. now owns 110,360 shares of the financial services provider’s stock valued at $18,703,000 after purchasing an additional 392 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Ameriprise Financial by 89.8% during the 1st quarter. Jacobi Capital Management LLC now owns 875 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 414 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Ameriprise Financial by 13.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,569 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 428 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in Ameriprise Financial by 10.1% during the 1st quarter. IFM Investors Pty Ltd now owns 4,694 shares of the financial services provider’s stock valued at $694,000 after purchasing an additional 432 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Ameriprise Financial by 2.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 17,908 shares of the financial services provider’s stock valued at $2,649,000 after purchasing an additional 435 shares in the last quarter. 82.66% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on AMP. Credit Suisse Group began coverage on Ameriprise Financial in a research note on Wednesday, April 25th. They set a “neutral” rating and a $154.00 price target for the company. Sandler O’Neill set a $158.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research note on Tuesday, April 24th. Royal Bank of Canada set a $158.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research note on Tuesday, April 24th. SunTrust Banks cut their price objective on Ameriprise Financial to $150.00 and set a “hold” rating for the company in a research report on Wednesday, April 25th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Ameriprise Financial from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Thursday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $167.22.

In other Ameriprise Financial news, CEO James M. Cracchiolo bought 7,400 shares of Ameriprise Financial stock in a transaction dated Thursday, May 10th. The stock was bought at an average price of $136.04 per share, for a total transaction of $1,006,696.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,416 shares of the company’s stock, valued at $32,978,272.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Walter Stanley Berman bought 3,728 shares of Ameriprise Financial stock in a transaction dated Wednesday, May 2nd. The stock was acquired at an average price of $134.12 per share, with a total value of $499,999.36. Following the acquisition, the vice president now directly owns 25,076 shares of the company’s stock, valued at $3,363,193.12. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

Shares of NYSE:AMP opened at $146.45 on Friday. Ameriprise Financial, Inc. has a one year low of $125.07 and a one year high of $183.90. The firm has a market cap of $21.25 billion, a PE ratio of 11.94 and a beta of 1.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.67 and a quick ratio of 0.67.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Monday, April 23rd. The financial services provider reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.24. Ameriprise Financial had a return on equity of 33.67% and a net margin of 13.59%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. equities research analysts expect that Ameriprise Financial, Inc. will post 14.44 EPS for the current year.

About Ameriprise Financial

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

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