Ameriprise Financial, Inc. (NYSE:AMP) Shares Acquired by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 412 shares of the financial services provider’s stock after buying an additional 37 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Ameriprise Financial were worth $219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. acquired a new position in Ameriprise Financial in the third quarter valued at approximately $31,000. Country Trust Bank boosted its holdings in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 47 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Ameriprise Financial in the third quarter valued at approximately $45,000. Friedenthal Financial acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $58,000. Finally, Trifecta Capital Advisors LLC boosted its holdings in Ameriprise Financial by 31.4% in the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 33 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % 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 over the last 90 days. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. 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. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $494.89.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $561.72 on Thursday. Ameriprise Financial, Inc. has a 12 month low of $370.12 and a 12 month high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day simple moving average of $548.13 and a 200-day simple moving average of $491.48. The stock has a market capitalization of $54.50 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36.

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.