Grimes & Company Inc. Has $786,000 Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Grimes & Company Inc. decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,477 shares of the financial services provider’s stock after selling 184 shares during the period. Grimes & Company Inc.’s holdings in Ameriprise Financial were worth $786,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMP. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at about $31,000. Country Trust Bank grew its holdings in Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Ameriprise Financial in the 4th quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial in the 3rd quarter valued at approximately $45,000. Finally, Albion Financial Group UT acquired a new stake in Ameriprise Financial in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $563.57 on Friday. The stock’s fifty day simple moving average is $548.23 and its 200 day simple moving average is $493.41. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $54.67 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 0.85 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $370.12 and a one year high of $577.00.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $494.89.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was 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. The trade was a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value 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 represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 in the last 90 days. 0.73% of the stock is owned by corporate insiders.

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.