Gradient Investments LLC Reduces Position in Ameriprise Financial, Inc. (AMP)
Gradient Investments LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,719 shares of the financial services provider’s stock after selling 9,456 shares during the quarter. Gradient Investments LLC’s holdings in Ameriprise Financial were worth $7,266,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the fourth quarter worth about $30,000. Enlightenment Research LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $31,000. Oregon Public Employees Retirement Fund grew its position in Ameriprise Financial by 9,885.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,413,630 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 3,379,445 shares during the last quarter. Canton Hathaway LLC bought a new position in Ameriprise Financial in the 1st quarter worth about $36,000. Finally, Executive Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 84.98% of the company’s stock.
AMP stock traded up $1.14 on Thursday, hitting $139.68. 14,288 shares of the company’s stock traded hands, compared to its average volume of 1,030,023. Ameriprise Financial, Inc. has a 1-year low of $95.69 and a 1-year high of $153.15. The firm has a market cap of $18.76 billion, a PE ratio of 9.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.68 and a quick ratio of 0.68.
Several research firms have commented on AMP. Zacks Investment Research cut shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research report on Monday. UBS Group increased their price objective on shares of Ameriprise Financial from $156.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday. Barclays increased their price objective on shares of Ameriprise Financial from $135.00 to $146.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Morgan Stanley decreased their price objective on shares of Ameriprise Financial from $170.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, January 11th. Finally, ValuEngine cut shares of Ameriprise Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $152.38.
In related news, EVP Colin Moore sold 24,032 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $133.64, for a total value of $3,211,636.48. Following the completion of the sale, the executive vice president now owns 56,447 shares in the company, valued at approximately $7,543,577.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.
About Ameriprise Financial
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
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