Montecito Bank & Trust Purchases 222 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Montecito Bank & Trust raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,463 shares of the financial services provider’s stock after acquiring an additional 222 shares during the quarter. Montecito Bank & Trust’s holdings in Ameriprise Financial were worth $2,909,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Oakworth Capital Inc. acquired a new position in Ameriprise Financial in the third quarter valued at approximately $31,000. Country Trust Bank raised its position in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 47 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial during the 3rd quarter valued at $45,000. Albion Financial Group UT acquired a new position in shares of Ameriprise Financial in the 4th quarter valued at $46,000. Finally, Friedenthal Financial bought a new stake in Ameriprise Financial in the fourth quarter valued at about $58,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

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

Ameriprise Financial Stock Up 0.3 %

AMP stock opened at $563.49 on Friday. The stock has a market capitalization of $54.66 billion, a P/E ratio of 21.63, a P/E/G ratio of 0.85 and a beta of 1.36. The business has a 50-day moving average of $548.17 and a 200-day moving average of $491.97. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a fifty-two week low of $370.12 and a fifty-two week high of $577.00.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was 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 owns 6,409 shares in the company, 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 valued at $11,983,436 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

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.