Creative Planning Boosts Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Creative Planning raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMPGet Rating) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,719 shares of the financial services provider’s stock after acquiring an additional 492 shares during the period. Creative Planning’s holdings in Ameriprise Financial were worth $3,708,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMP. Fairfield Bush & CO. purchased a new stake in Ameriprise Financial during the first quarter valued at about $53,000. Synovus Financial Corp boosted its position in Ameriprise Financial by 2.9% during the first quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider’s stock valued at $588,000 after buying an additional 56 shares during the period. Aviva PLC raised its stake in shares of Ameriprise Financial by 23.7% during the first quarter. Aviva PLC now owns 45,024 shares of the financial services provider’s stock valued at $13,523,000 after acquiring an additional 8,625 shares during the last quarter. Prudential PLC bought a new position in shares of Ameriprise Financial during the first quarter valued at about $724,000. Finally, Cetera Investment Advisers raised its stake in shares of Ameriprise Financial by 62.5% during the first quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 1,115 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, insider Dawn M. Brockman sold 410 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the transaction, the insider now owns 875 shares of the company’s stock, valued at $271,801.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ameriprise Financial news, insider Dawn M. Brockman sold 410 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the transaction, the insider now owns 875 shares of the company’s stock, valued at $271,801.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Cracchiolo sold 13,050 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $333.02, for a total transaction of $4,345,911.00. Following the transaction, the chief executive officer now directly owns 160,597 shares of the company’s stock, valued at approximately $53,482,012.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,737 shares of company stock valued at $9,796,822. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. The Goldman Sachs Group upped their price objective on shares of Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. Piper Sandler upped their price objective on shares of Ameriprise Financial from $240.00 to $250.00 and gave the company an “underweight” rating in a research note on Friday, October 7th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Credit Suisse Group upped their price objective on shares of Ameriprise Financial to $351.00 in a research note on Tuesday, November 1st. Finally, StockNews.com downgraded shares of Ameriprise Financial from a “hold” rating to a “sell” rating in a research note on Thursday, December 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $332.70.

Ameriprise Financial Price Performance

AMP stock opened at $341.00 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $219.99 and a 1 year high of $343.72. The company has a market cap of $36.29 billion, a P/E ratio of 14.22, a PEG ratio of 0.66 and a beta of 1.46. The firm has a 50-day moving average of $321.98 and a 200 day moving average of $290.96. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.79 and a quick ratio of 0.79.

Ameriprise Financial (NYSE:AMPGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $6.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.82 by $0.61. Ameriprise Financial had a net margin of 19.17% and a return on equity of 61.53%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the firm earned $5.91 earnings per share. Ameriprise Financial’s revenue was up 20.3% on a year-over-year basis. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 24.54 EPS for the current year.

About Ameriprise Financial

(Get Rating)

Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Further Reading

Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMPGet Rating).

Institutional Ownership by Quarter for Ameriprise Financial (NYSE:AMP)

Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.