Brighton Jones LLC Buys 235 Shares of Ameriprise Financial, Inc. $AMP

Brighton Jones LLC lifted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,810 shares of the financial services provider’s stock after purchasing an additional 235 shares during the quarter. Brighton Jones LLC’s holdings in Ameriprise Financial were worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMP. Cambridge Investment Research Advisors Inc. boosted its position in shares of Ameriprise Financial by 7.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider’s stock worth $2,864,000 after purchasing an additional 420 shares in the last quarter. Amalgamated Bank boosted its position in shares of Ameriprise Financial by 2.1% during the 1st quarter. Amalgamated Bank now owns 20,356 shares of the financial services provider’s stock worth $9,855,000 after purchasing an additional 428 shares in the last quarter. MorganRosel Wealth Management LLC boosted its position in shares of Ameriprise Financial by 41.9% during the 1st quarter. MorganRosel Wealth Management LLC now owns 2,774 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 819 shares in the last quarter. Alta Advisers Ltd bought a new position in shares of Ameriprise Financial during the 1st quarter worth about $250,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Ameriprise Financial by 9.7% during the 1st quarter. Vontobel Holding Ltd. now owns 7,749 shares of the financial services provider’s stock worth $3,751,000 after purchasing an additional 686 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMP shares. Piper Sandler upped their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Royal Bank Of Canada upped their target price on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Finally, Raymond James Financial upped their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average target price of $539.50.

Ameriprise Financial Trading Up 1.2%

NYSE:AMP opened at $484.72 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $45.69 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a 50-day moving average price of $493.96 and a two-hundred day moving average price of $503.12.

Ameriprise Financial 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.