Accel Wealth Management Lowers Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Accel Wealth Management lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,415 shares of the financial services provider’s stock after selling 273 shares during the quarter. Accel Wealth Management’s holdings in Ameriprise Financial were worth $754,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMP. Oakworth Capital Inc. acquired a new stake in Ameriprise Financial during the 3rd quarter worth $31,000. Country Trust Bank raised its position in shares of Ameriprise Financial by 213.6% during 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 period. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the fourth quarter valued at $36,000. Peterson Financial Group Inc. acquired a new position in Ameriprise Financial in the third quarter valued at about $45,000. Finally, Albion Financial Group UT purchased a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price 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. Keefe, Bruyette & Woods decreased their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. UBS Group cut shares of 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. Finally, Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Stock Up 0.0 %

AMP stock opened at $563.57 on Friday. Ameriprise Financial, Inc. has a one year low of $370.12 and a one year high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $548.23 and a 200-day moving average of $493.41. The stock has a market capitalization of $54.67 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36.

Insider Buying and Selling at Ameriprise Financial

In related news, insider Gumer Alvero sold 2,325 shares of the company’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 value of $1,199,816.25. Following the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction 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. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,715 shares of company stock valued at $11,983,436. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.