Cobblestone Capital Advisors LLC NY Takes $208,000 Position in Ameriprise Financial, Inc. $AMP

Cobblestone Capital Advisors LLC NY acquired a new stake in Ameriprise Financial, Inc. (NYSE:AMP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 390 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Ameriprise Financial by 6.9% during the fourth quarter. Brighton Jones LLC now owns 777 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 50 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Ameriprise Financial by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,917 shares of the financial services provider’s stock worth $2,864,000 after acquiring an additional 420 shares during the last quarter. Amalgamated Bank raised its position in shares of Ameriprise Financial by 2.1% in the first quarter. Amalgamated Bank now owns 20,356 shares of the financial services provider’s stock valued at $9,855,000 after buying an additional 428 shares in the last quarter. MorganRosel Wealth Management LLC raised its position in shares of Ameriprise Financial by 41.9% in the first quarter. MorganRosel Wealth Management LLC now owns 2,774 shares of the financial services provider’s stock valued at $1,343,000 after buying an additional 819 shares in the last quarter. Finally, Alta Advisers Ltd acquired a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $250,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction 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. This trade represents a 36.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated 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. The trade was a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $484.72 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The business has a 50 day moving average of $493.96 and a 200-day moving average of $503.12. The company has a market capitalization of $45.69 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.07 and a beta of 1.26.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMP. Evercore ISI dropped their target price on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. Raymond James Financial boosted their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a report on Wednesday, October 8th. Royal Bank Of Canada boosted 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. Finally, Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $539.50.

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.