Convergence Investment Partners LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 16.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,178 shares of the financial services provider’s stock after purchasing an additional 2,045 shares during the quarter. Convergence Investment Partners LLC’s holdings in Ameriprise Financial were worth $2,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMP. Victory Capital Management Inc. boosted its holdings in Ameriprise Financial by 499.6% in the 3rd quarter. Victory Capital Management Inc. now owns 552,144 shares of the financial services provider’s stock valued at $81,999,000 after purchasing an additional 460,058 shares during the period. Vanguard Group Inc. boosted its holdings in Ameriprise Financial by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock valued at $1,622,270,000 after purchasing an additional 340,206 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Ameriprise Financial by 147.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 504,364 shares of the financial services provider’s stock valued at $74,903,000 after purchasing an additional 300,748 shares during the period. Samlyn Capital LLC boosted its holdings in Ameriprise Financial by 238.1% in the 2nd quarter. Samlyn Capital LLC now owns 413,106 shares of the financial services provider’s stock valued at $52,584,000 after purchasing an additional 290,921 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in Ameriprise Financial by 72.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 674,023 shares of the financial services provider’s stock valued at $85,796,000 after purchasing an additional 283,292 shares during the period. 81.57% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have issued reports on AMP. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Wednesday, January 10th. Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Saturday, December 16th. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. SunTrust Banks boosted their target price on shares of Ameriprise Financial from $140.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Morgan Stanley boosted their target price on shares of Ameriprise Financial from $152.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ameriprise Financial has an average rating of “Buy” and an average target price of $159.60.

In other news, Chairman James M. Cracchiolo sold 42,228 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the completion of the transaction, the chairman now directly owns 242,013 shares in the company, valued at approximately $38,559,931.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Moore sold 4,285 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $161.09, for a total transaction of $690,270.65. Following the transaction, the executive vice president now owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The disclosure for this sale can be found here. Insiders sold a total of 72,466 shares of company stock valued at $11,708,801 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Ameriprise Financial, Inc. (NYSE AMP) opened at $177.31 on Wednesday. The company has a market cap of $26,929.18, a P/E ratio of 16.54 and a beta of 1.93. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82. Ameriprise Financial, Inc. has a 12-month low of $110.75 and a 12-month high of $183.90.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, beating the consensus estimate of $2.79 by $0.33. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 EPS. sell-side analysts predict that Ameriprise Financial, Inc. will post 12.15 earnings per share for the current fiscal year.

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About Ameriprise Financial

Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.

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

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