Carr Financial Group Corp Raises Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Carr Financial Group Corp lifted its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 770 shares of the financial services provider’s stock after buying an additional 65 shares during the quarter. Carr Financial Group Corp’s holdings in Ameriprise Financial were worth $410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMP. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after buying an additional 358,699 shares during the period. Maj Invest Holding A S purchased a new stake in shares of Ameriprise Financial in the third quarter worth approximately $98,742,000. Assenagon Asset Management S.A. raised its holdings in shares of Ameriprise Financial by 816.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after buying an additional 195,271 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Ameriprise Financial by 144.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock worth $114,345,000 after purchasing an additional 143,648 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Ameriprise Financial during the 3rd quarter worth $456,890,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock valued at $11,983,436 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Up 0.0 %

Shares of NYSE AMP opened at $563.57 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. 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. The stock’s fifty day simple moving average is $548.20 and its two-hundred day simple moving average is $492.47. Ameriprise Financial, Inc. has a 12-month low of $370.12 and a 12-month high of $577.00.

Analysts Set New Price Targets

Several research analysts have commented on AMP shares. Keefe, Bruyette & Woods reduced their price objective 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 raised their price objective on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley raised their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $494.89.

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.