Patton Albertson Miller Group LLC Raises Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Patton Albertson Miller Group LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,800 shares of the financial services provider’s stock after buying an additional 69 shares during the period. Ameriprise Financial comprises about 1.2% of Patton Albertson Miller Group LLC’s holdings, making the stock its 25th biggest position. Patton Albertson Miller Group LLC’s holdings in Ameriprise Financial were worth $8,945,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AMP. Oakworth Capital Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $31,000. Country Trust Bank grew its holdings in Ameriprise Financial by 213.6% during the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 47 shares during the period. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in shares of Ameriprise Financial in the third quarter valued at $45,000. Finally, Albion Financial Group UT purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $46,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last three months. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMP has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $494.89.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $563.57 on Friday. Ameriprise Financial, Inc. has a 1-year low of $370.12 and a 1-year high of $577.00. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $54.67 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The firm’s 50 day simple moving average is $548.23 and its 200 day simple moving average is $493.41.

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.