Sound Income Strategies LLC Buys New Position in Ameriprise Financial, Inc. (NYSE:AMP)

Sound Income Strategies LLC purchased a new stake in Ameriprise Financial, Inc. (NYSE:AMP) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 67 shares of the financial services provider’s stock, valued at approximately $36,000.

Several other institutional investors have also recently added to or reduced their stakes in AMP. Oakworth Capital Inc. acquired a new position in shares of Ameriprise Financial during the 3rd quarter valued at $31,000. Country Trust Bank grew its holdings in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Ameriprise Financial during the third quarter valued at about $45,000. Albion Financial Group UT acquired a new position in shares of Ameriprise Financial during the fourth quarter valued at about $46,000. Finally, Friedenthal Financial bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $58,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction 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 transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,715 shares of company stock valued at $11,983,436. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada increased their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued 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.

Ameriprise Financial Stock Performance

NYSE AMP opened at $563.57 on Friday. The company has a fifty day moving average price of $548.23 and a 200-day moving average price of $493.41. The firm has a market cap of $54.67 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a 1 year low of $370.12 and a 1 year high of $577.00.

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.