Cerro Pacific Wealth Advisors LLC Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Cerro Pacific Wealth Advisors LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 576 shares of the financial services provider’s stock after purchasing an additional 19 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AMP. Geller Advisors LLC lifted its position in shares of Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock worth $412,000 after buying an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC lifted its stake in shares of Ameriprise Financial by 2.0% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 20 shares during the last quarter. Dakota Wealth Management boosted its stake in Ameriprise Financial by 2.7% during the fourth quarter. Dakota Wealth Management now owns 798 shares of the financial services provider’s stock worth $425,000 after buying an additional 21 shares during the period. Ledyard National Bank boosted its stake in shares of Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 23 shares during the period. Finally, Everpar Advisors LLC grew its stake in shares of Ameriprise Financial by 1.8% during the fourth quarter. Everpar Advisors LLC now owns 1,286 shares of the financial services provider’s stock valued at $685,000 after buying an additional 23 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment 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’s stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average price target of $494.89.

Ameriprise Financial Price Performance

Shares of AMP opened at $563.49 on Friday. The company has a 50 day moving average of $548.17 and a two-hundred day moving average of $491.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a twelve month low of $370.12 and a twelve month high of $577.00. The company has a market cap of $54.66 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.

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.