Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 576 shares of the financial services provider’s stock after buying an additional 19 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Ameriprise Financial were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. AE Wealth Management LLC raised its holdings in shares of Ameriprise Financial by 28.6% during the second quarter. AE Wealth Management LLC now owns 2,042 shares of the financial services provider’s stock worth $872,000 after purchasing an additional 454 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Ameriprise Financial by 8.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 13,695 shares of the financial services provider’s stock valued at $5,850,000 after buying an additional 1,110 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Ameriprise Financial by 33.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,148 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 1,557 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Ameriprise Financial by 58.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 19,190 shares of the financial services provider’s stock worth $8,198,000 after buying an additional 7,107 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its holdings in Ameriprise Financial by 6.3% during the second quarter. Insigneo Advisory Services LLC now owns 1,904 shares of the financial services provider’s stock worth $746,000 after acquiring an additional 113 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

NYSE AMP opened at $563.49 on Friday. The stock’s 50 day simple moving average is $548.17 and its 200-day simple moving average is $491.97. Ameriprise Financial, Inc. has a 1-year low of $370.12 and a 1-year high of $577.00. 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 company has a market cap of $54.66 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36.

Analyst Ratings Changes

A number of research analysts have issued reports on AMP shares. Morgan Stanley boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on shares of 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. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. The Goldman Sachs Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus target price of $494.89.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 2,325 shares of the business’s 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 transaction, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the company’s 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 completion of the sale, the insider now owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. 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 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.