Whalen Wealth Management Inc. Makes New $1.02 Million Investment in Ameriprise Financial, Inc. $AMP

Whalen Wealth Management Inc. purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the second quarter, Holdings Channel.com reports. The fund purchased 1,907 shares of the financial services provider’s stock, valued at approximately $1,018,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC increased its stake in Ameriprise Financial by 71.0% during the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 22 shares during the period. Salomon & Ludwin LLC increased its stake in Ameriprise Financial by 115.4% during the second quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the period. TD Capital Management LLC increased its stake in Ameriprise Financial by 566.7% during the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $29,000. Finally, WPG Advisers LLC purchased a new stake in Ameriprise Financial during the first quarter worth about $33,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMP has been the topic of a number of recent research reports. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their target price 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. BMO Capital Markets initiated coverage on shares of Ameriprise Financial in a research note on Friday, October 3rd. They set a “market perform” rating and a $525.00 target price on the stock. Evercore ISI cut their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Finally, Morgan Stanley cut their target price on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $539.50.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $484.67 on Wednesday. The firm has a market capitalization of $45.69 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.08 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $493.54 and its two-hundred day moving average is $503.32.

Ameriprise Financial Company 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.