New York Life Investment Management LLC Boosts Stake in Ameriprise Financial, Inc. $AMP

New York Life Investment Management LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,284 shares of the financial services provider’s stock after buying an additional 23 shares during the period. New York Life Investment Management LLC’s holdings in Ameriprise Financial were worth $7,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trust Co. of Vermont raised its holdings in shares of Ameriprise Financial by 0.6% in the second quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after buying an additional 19 shares during the last quarter. Plancorp LLC raised its holdings in shares of Ameriprise Financial by 4.8% in the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after buying an additional 20 shares during the last quarter. Old Port Advisors raised its holdings in shares of Ameriprise Financial by 1.5% in the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after buying an additional 20 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Ameriprise Financial by 0.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after buying an additional 20 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after buying an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of a number of research analyst reports. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and an average price target of $539.50.

Ameriprise Financial Stock Down 1.6%

AMP stock opened at $476.86 on Thursday. The firm has a market cap of $44.95 billion, a PE ratio of 14.84, a P/E/G ratio of 1.08 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s fifty day moving average is $492.97 and its 200 day moving average is $503.37. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares in the company, valued at approximately $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is currently owned by company insiders.

About Ameriprise Financial

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.