Howard Capital Management Inc. Acquires 62 Shares of Ameriprise Financial, Inc. $AMP

Howard Capital Management Inc. lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 633 shares of the financial services provider’s stock after purchasing an additional 62 shares during the period. Howard Capital Management Inc.’s holdings in Ameriprise Financial were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Trust Co. of Vermont raised its stake in shares of Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 19 shares during the period. Plancorp LLC raised its stake in shares of Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors raised its stake in shares of Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 20 shares during the period. Linden Thomas Advisory Services LLC raised its stake in shares of Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock worth $2,186,000 after purchasing an additional 20 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Stock Down 1.6%

AMP stock opened at $476.86 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $44.95 billion, a PE ratio of 14.84, a PEG ratio of 1.08 and a beta of 1.26. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The stock has a 50-day simple moving average of $492.97 and a two-hundred day simple moving average of $503.37.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMP shares. Evercore ISI lowered their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. Morgan Stanley decreased their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Raymond James Financial lifted their price objective 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, BMO Capital Markets started coverage on Ameriprise Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $539.50.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial 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 transaction, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value 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. The trade was a 47.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.73% of the stock is owned by insiders.

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.