Blue Trust Inc. Acquires 649 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Blue Trust Inc. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 35.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,480 shares of the financial services provider’s stock after purchasing an additional 649 shares during the quarter. Blue Trust Inc.’s holdings in Ameriprise Financial were worth $1,320,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Maj Invest Holding A S grew its holdings in Ameriprise Financial by 67.5% during the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after buying an additional 141,927 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Ameriprise Financial by 24.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,035 shares of the financial services provider’s stock valued at $551,000 after buying an additional 204 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Ameriprise Financial by 22.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 1,898 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 350 shares in the last quarter. Patton Albertson Miller Group LLC grew its holdings in Ameriprise Financial by 0.4% during the 4th quarter. Patton Albertson Miller Group LLC now owns 16,800 shares of the financial services provider’s stock valued at $8,945,000 after buying an additional 69 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at approximately $292,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $571.93 on Wednesday. The business has a fifty day moving average of $548.14 and a 200 day moving average of $495.06. Ameriprise Financial, Inc. has a 52-week low of $378.05 and a 52-week high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $55.48 billion, a P/E ratio of 21.96, a PEG ratio of 0.85 and a beta of 1.36.

Wall Street Analyst Weigh In

AMP has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $503.22.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock worth $11,983,436 in the last quarter. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.