Blue Trust Inc. Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Blue Trust Inc. raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 35.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,480 shares of the financial services provider’s stock after acquiring an additional 649 shares during the period. Blue Trust Inc.’s holdings in Ameriprise Financial were worth $1,320,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Czech National Bank boosted its position in shares of Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after buying an additional 1,033 shares during the last quarter. Bridgewater Associates LP boosted its position in shares of Ameriprise Financial by 97.8% during the third quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock valued at $23,730,000 after buying an additional 24,968 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after buying an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC boosted its position in shares of Ameriprise Financial by 136.3% during the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock valued at $1,521,000 after buying an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new stake in shares of Ameriprise Financial during the third quarter valued at $458,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday. Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, UBS Group downgraded 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $503.22.

Insider Transactions at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. This trade represents a 33.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial 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 sale, the insider now directly 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. Insiders have sold 21,715 shares of company stock valued at $11,983,436 over the last quarter. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Up 1.9 %

NYSE AMP opened at $571.93 on Wednesday. The stock’s 50-day moving average price is $548.14 and its 200-day moving average price is $495.06. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52 week low of $378.05 and a 52 week high of $577.00. The company has a market capitalization of $55.48 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36.

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.