Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,945 shares of the financial services provider’s stock after purchasing an additional 344 shares during the period. Ameriprise Financial accounts for 2.7% of Smith Group Asset Management LLC’s portfolio, making the stock its 10th largest position. Smith Group Asset Management LLC owned about 0.07% of Ameriprise Financial worth $37,241,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Driehaus Capital Management LLC grew its stake in Ameriprise Financial by 28.1% during the second quarter. Driehaus Capital Management LLC now owns 597 shares of the financial services provider’s stock worth $255,000 after buying an additional 131 shares during the period. Creative Planning grew its stake in Ameriprise Financial by 2.2% during the second quarter. Creative Planning now owns 22,223 shares of the financial services provider’s stock worth $9,493,000 after buying an additional 487 shares during the period. NewEdge Advisors LLC grew its stake in Ameriprise Financial by 9.4% during the second quarter. NewEdge Advisors LLC now owns 9,166 shares of the financial services provider’s stock worth $3,916,000 after buying an additional 789 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Ameriprise Financial by 0.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,674 shares of the financial services provider’s stock worth $3,706,000 after buying an additional 79 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Ameriprise Financial during the second quarter worth approximately $120,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Up 1.9 %

Shares of NYSE:AMP opened at $571.93 on Wednesday. The stock has a market capitalization of $55.48 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. Ameriprise Financial, Inc. has a 1-year low of $378.05 and a 1-year high of $577.00. The company’s fifty day moving average is $548.14 and its two-hundred day moving average is $495.06. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Insiders Place Their Bets

In related news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,715 shares of company stock valued at $11,983,436. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research note on Friday, January 10th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $503.22.

About Ameriprise Financial

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.