Patton Albertson Miller Group LLC Has $8.95 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Patton Albertson Miller Group LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,800 shares of the financial services provider’s stock after purchasing an additional 69 shares during the period. Ameriprise Financial accounts for approximately 1.2% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 25th biggest position. Patton Albertson Miller Group LLC’s holdings in Ameriprise Financial were worth $8,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMP. Oakworth Capital Inc. bought a new position in Ameriprise Financial during the third quarter worth $31,000. Country Trust Bank grew its holdings in Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 47 shares during the period. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth about $36,000. Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial in the 3rd quarter valued at about $45,000. Finally, Albion Financial Group UT bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $46,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $563.57 on Friday. The stock has a market cap of $54.67 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current 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. The firm’s 50-day simple moving average is $548.23 and its 200 day simple moving average is $493.41.

Analyst Upgrades and Downgrades

AMP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods cut their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note 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 given a buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $494.89.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction dated 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 in the company, valued at $3,615,701.44. This represents a 57.45 % 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, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,715 shares of company stock worth $11,983,436 over the last 90 days. 0.73% of the stock is currently owned by corporate 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.