Focus Partners Advisor Solutions LLC Reduces Stock Position in Ameriprise Financial, Inc. $AMP

Focus Partners Advisor Solutions LLC reduced its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 31.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,590 shares of the financial services provider’s stock after selling 741 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Ameriprise Financial were worth $849,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NorthRock Partners LLC raised its stake in Ameriprise Financial by 8.9% in the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after buying an additional 897 shares in the last quarter. Ascent Group LLC bought a new position in Ameriprise Financial in the first quarter worth about $371,000. Advisory Alpha LLC bought a new position in Ameriprise Financial in the first quarter worth about $265,000. Voya Investment Management LLC raised its stake in Ameriprise Financial by 4.0% in the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after buying an additional 4,232 shares in the last quarter. Finally, Strs Ohio bought a new position in Ameriprise Financial in the first quarter worth about $6,439,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AMP. Raymond James Financial increased their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. William Blair downgraded shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $539.50.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $484.67 on Wednesday. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The company has a 50 day simple moving average of $493.54 and a two-hundred day simple moving average of $503.32. The company has a market capitalization of $45.69 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.08 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Insider Activity at Ameriprise Financial

In related news, EVP Heather J. Melloh sold 1,500 shares of the firm’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 transaction of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The sale 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 firm’s 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 sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by company 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.