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

Harbor Investment Advisory LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 9.9% during the fourth quarter, HoldingsChannel reports. The fund owned 412 shares of the financial services provider’s stock after buying an additional 37 shares during the period. 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 recently bought and sold shares of the company. Oakworth Capital Inc. acquired a new stake in Ameriprise Financial in the third quarter valued at $31,000. Country Trust Bank grew 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 during the last quarter. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial in the third quarter valued at $45,000. Friedenthal Financial acquired a new stake in Ameriprise Financial in the fourth quarter valued at $58,000. Finally, Trifecta Capital Advisors LLC grew 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 during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMP. Royal Bank of Canada upped 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 increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods decreased their price objective on 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, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Performance

NYSE AMP opened at $561.72 on Thursday. The business’s 50-day moving average price is $548.13 and its 200 day moving average price is $491.48. Ameriprise Financial, Inc. has a twelve month low of $370.12 and a twelve month high of $577.00. The company 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. 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 news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’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 completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is owned by company 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.