Palisade Asset Management LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 8.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,160 shares of the financial services provider’s stock after purchasing an additional 320 shares during the period. Palisade Asset Management LLC’s holdings in Ameriprise Financial were worth $533,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AMP. Retirement Systems of Alabama lifted its stake in shares of Ameriprise Financial by 37.8% during the 1st quarter. Retirement Systems of Alabama now owns 263,892 shares of the financial services provider’s stock worth $33,805,000 after acquiring an additional 72,370 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Ameriprise Financial by 40.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 278 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 80 shares during the last quarter. Shorepoint Capital Partners LLC bought a new stake in shares of Ameriprise Financial during the 1st quarter worth approximately $1,031,000. Legacy Private Trust Co. lifted its stake in shares of Ameriprise Financial by 3.7% during the 1st quarter. Legacy Private Trust Co. now owns 24,326 shares of the financial services provider’s stock worth $3,116,000 after acquiring an additional 876 shares during the last quarter. Finally, NuWave Investment Management LLC lifted its stake in shares of Ameriprise Financial by 258.4% during the 1st quarter. NuWave Investment Management LLC now owns 405 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 292 shares during the last quarter. 84.98% of the stock is owned by institutional investors and hedge funds.
Shares of AMP stock traded down $1.27 on Monday, reaching $141.27. 657,500 shares of the company’s stock were exchanged, compared to its average volume of 974,547. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market capitalization of $19.23 billion, a P/E ratio of 9.46 and a beta of 1.91. Ameriprise Financial, Inc. has a 52 week low of $95.69 and a 52 week high of $153.15.
A number of equities research analysts recently issued reports on AMP shares. ValuEngine lowered Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 25th. Zacks Investment Research lowered Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Sandler O’Neill raised Ameriprise Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Barclays raised Ameriprise Financial from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $165.00 to $135.00 in a research note on Wednesday, January 9th. Finally, Morgan Stanley decreased their price target on Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $152.38.
In other Ameriprise Financial news, EVP Colin Moore sold 24,032 shares of Ameriprise Financial stock in a transaction on Monday, February 25th. The stock was sold at an average price of $133.64, for a total transaction of $3,211,636.48. Following the completion of the sale, the executive vice president now directly owns 56,447 shares of the company’s stock, valued at approximately $7,543,577.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
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