Lebenthal Global Advisors LLC Grows Position in Ameriprise Financial, Inc. (NYSE:AMP)

Lebenthal Global Advisors LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,399 shares of the financial services provider’s stock after buying an additional 224 shares during the period. Lebenthal Global Advisors LLC’s holdings in Ameriprise Financial were worth $1,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMP. JPMorgan Chase & Co. raised its stake in Ameriprise Financial by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after purchasing an additional 31,158 shares during the period. Maj Invest Holding A S raised its stake in shares of Ameriprise Financial by 67.5% in the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock worth $187,466,000 after purchasing an additional 141,927 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ameriprise Financial by 3.8% during the third quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock worth $116,603,000 after purchasing an additional 8,989 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after buying an additional 143,648 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. 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. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and an average target price of $503.22.

Ameriprise Financial Trading Down 0.5 %

AMP stock opened at $560.97 on Tuesday. Ameriprise Financial, Inc. has a 52-week low of $378.05 and a 52-week high of $577.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market cap of $54.42 billion, a P/E ratio of 21.53, a PEG ratio of 0.85 and a beta of 1.36. The company’s 50-day simple moving average is $548.23 and its 200-day simple moving average is $494.21.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on 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 directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is owned by company 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.