Cadence Capital Management Llc increased its stake in Ameriprise Finl Inc (AMP) by 48.24% based on its latest 2016Q3 regulatory filing with the SEC. Cadence Capital Management Llc bought 32,632 shares as the company’s stock rose 11.14% with the market. The institutional investor held 100,272 shares of the finance company at the end of 2016Q3, valued at $10.00M, up from 67,640 at the end of the previous reported quarter. Cadence Capital Management Llc who had been investing in Ameriprise Finl Inc for a number of months, seems to be bullish on the $18.06 billion market cap company. The stock decreased 0.41% or $0.47 during the last trading session, hitting $114.73. Ameriprise Financial, Inc. (NYSE:AMP) has risen 12.76% since June 7, 2016 and is uptrending. It has outperformed by 5.33% the S&P500.
Cadence Capital Management Llc, which manages about $4.62B and $1.37 billion US Long portfolio, decreased its stake in Apple Inc (NASDAQ:AAPL) by 112,386 shares to 48,897 shares, valued at $5.53 million in 2016Q3, according to the filing. It also reduced its holding in General Mtrs Co (NYSE:GM) by 194,746 shares in the quarter, leaving it with 189,334 shares, and cut its stake in Timken Co (NYSE:TKR).
Cadence Capital Management Llc is a Massachusetts-based institutional investor with more than $4.62 billion AUM in June, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Cadence Capital Management latest Adv, the fund reported to have 3 full and part-time employees. Among which 3 performing investment advisory and research functions. The institutional investor had more than 200 clients.
Insitutional Activity: The institutional sentiment decreased to 0.75 in 2016 Q3. Its down 0.19, from 0.94 in 2016Q2. The ratio dived, as 39 funds sold all AMP shares owned while 244 reduced positions. 61 funds bought stakes while 150 increased positions. They now own 118.97 million shares or 4.57% less from 124.67 million shares in 2016Q2. The Tennessee-based Patten Grp Inc has invested 0% in Ameriprise Financial, Inc. (NYSE:AMP). M&T Savings Bank holds 54,505 shares or 0.03% of its portfolio. Ferguson Wellman Inc owns 98,553 shares or 0.42% of their US portfolio. Buckingham Capital holds 14,305 shares or 0.36% of its portfolio. Meiji Yasuda Asset Mgmt Ltd holds 11,235 shares or 0.13% of its portfolio. Stephens Ar accumulated 0.02% or 3,917 shares. Utd Capital Advisers owns 69,521 shares or 0.07% of their US portfolio. Capital One Association has 0.03% invested in the company for 3,511 shares. The Connecticut-based Tudor Inv Corp Et Al has invested 0.01% in Ameriprise Financial, Inc. (NYSE:AMP). Glg Limited Liability has 9,769 shares for 0.07% of their US portfolio. Brandywine Mgmt Llc last reported 0.17% of its portfolio in the stock. The Ontario – Canada-based Bank Of Nova Scotia has invested 0% in Ameriprise Financial, Inc. (NYSE:AMP). Cohen Klingenstein Ltd Company holds 0.23% of its portfolio in Ameriprise Financial, Inc. (NYSE:AMP) for 13,007 shares. Trilogy Glob LP holds 0.81% of its portfolio in Ameriprise Financial, Inc. (NYSE:AMP) for 246,017 shares. First Eagle Invest Mgmt Ltd Liability Co holds 0.01% or 21,324 shares in its portfolio.
Insider Transactions: Since August 9, 2016, the stock had 0 insider buys, and 6 selling transactions for $2.62 million net activity. 4,683 shares were sold by Junek John Carl, worth $469,681. 4,487 shares were sold by Sweeney Joseph Edward, worth $513,604. On Tuesday, August 9 Kupper Randy sold $551,052 worth of the stock or 5,686 shares. On Tuesday, November 29 McGraw Deirdre Davey sold $209,950 worth of the stock or 1,864 shares. The insider Woerner John Robert sold 4,513 shares worth $454,518.
Another recent and important Ameriprise Financial, Inc. (NYSE:AMP) news was published by Businesswire.com which published an article titled: “Ameriprise Financial Announces Schedule for Fourth Quarter and Full Year 2016 …” on January 04, 2017.
According to Zacks Investment Research, “AMERIPRISE FINANCIAL, INC. is a financial planning and services company with financial advisors and registered representatives that provides solutions for clients’ asset accumulation, income management and insurance protection needs. The Company’s financial advisors deliver tailored solutions to clients through a personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The Company specializes in meeting the retirement-related financial needs of the mass affluent and affluent. Financial planning services and investments are available through Ameriprise Financial Services, Inc. Member FINRA and SIPC.”
Ameriprise Financial, Inc. (NYSE:AMP) Ratings Coverage
Out of 10 analysts covering Ameriprise Financial (NYSE:AMP), 3 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 30% are positive. $147 is the highest target while $94 is the lowest. The $119.89 average target is 4.50% above today’s ($114.73) stock price. Ameriprise Financial has been the topic of 21 analyst reports since September 7, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, April 6 by Citigroup. RBC Capital Markets maintained Ameriprise Financial, Inc. (NYSE:AMP) rating on Thursday, October 22. RBC Capital Markets has “Outperform” rating and $136 price target. The rating was downgraded by Suntrust Robinson on Monday, December 19 to “Hold”. As per Thursday, October 22, the company rating was maintained by Barclays Capital. The firm has “Equal-Weight” rating given on Friday, January 29 by Barclays Capital. The rating was downgraded by SunTrust to “Hold” on Monday, December 19. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, April 28. As per Wednesday, March 23, the company rating was initiated by SunTrust. The firm earned “Outperform” rating on Monday, January 9 by Credit Suisse. The firm earned “Outperform” rating on Monday, January 11 by Credit Suisse.
AMP Company Profile
Ameriprise Financial, Inc., incorporated on October 29, 1983, is a diversified financial services firm that offers financial solutions to individual and institutional clients. The Firm operates in five divisions: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Firm uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail services and products. The retail services and products that use the Ameriprise Financial brand include those that the Company provides through its advisors (financial planning investment advisory accounts and retail brokerage services) and services and products that the Company markets directly to clients or through affinity groups (personal auto and home insurance). The Firm uses its RiverSource brand for its annuity and protection products issued by the RiverSource Life companies, including its life and disability income insurance products. The Company’s brand, Columbia Threadneedle Investments, has asset management capabilities.
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