Ballentine Partners LLC Acquires 55 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Ballentine Partners LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,261 shares of the financial services provider’s stock after purchasing an additional 55 shares during the period. Ballentine Partners LLC’s holdings in Ameriprise Financial were worth $1,204,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Geode Capital Management LLC increased its holdings in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares during the last quarter. Legal & General Group Plc increased its holdings in Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after acquiring an additional 11,060 shares during the last quarter. Bank of Montreal Can increased its holdings in Ameriprise Financial by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 320,827 shares of the financial services provider’s stock worth $141,405,000 after acquiring an additional 4,968 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Ameriprise Financial by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock worth $116,603,000 after acquiring an additional 8,989 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.3 %

Shares of NYSE AMP opened at $559.18 on Wednesday. The business has a 50-day moving average of $548.17 and a 200-day moving average of $490.59. The firm has a market capitalization of $54.25 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 0.84 and a beta of 1.36. Ameriprise Financial, Inc. has a 12 month low of $370.12 and a 12 month high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last quarter. 0.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMP shares. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods reduced their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $494.89.

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.