Ameriprise Financial, Inc. $AMP Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,723 shares of the financial services provider’s stock after selling 195 shares during the period. Carret Asset Management LLC’s holdings in Ameriprise Financial were worth $3,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC increased its position in Ameriprise Financial by 8.9% during the 2nd quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after purchasing an additional 897 shares during the period. Ascent Group LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $371,000. Advisory Alpha LLC acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $265,000. Voya Investment Management LLC increased its position in Ameriprise Financial by 4.0% during the 1st quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after purchasing an additional 4,232 shares during the period. Finally, Strs Ohio acquired a new position in Ameriprise Financial during the 1st quarter worth approximately $6,439,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Evercore ISI lowered their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Raymond James Financial upped their price target on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Price Performance

AMP stock opened at $476.86 on Thursday. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. 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 stock’s 50 day moving average price is $492.97 and its 200 day moving average price is $503.37. The firm has a market cap of $44.95 billion, a P/E ratio of 14.84, a PEG ratio of 1.08 and a beta of 1.26.

Ameriprise Financial Company 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.