Montecito Bank & Trust Has $2.91 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Montecito Bank & Trust boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,463 shares of the financial services provider’s stock after purchasing an additional 222 shares during the period. Montecito Bank & Trust’s holdings in Ameriprise Financial were worth $2,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Czech National Bank raised its holdings in shares of Ameriprise Financial by 5.2% during the 4th quarter. Czech National Bank now owns 21,035 shares of the financial services provider’s stock valued at $11,200,000 after purchasing an additional 1,033 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Ameriprise Financial by 97.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,510 shares of the financial services provider’s stock worth $23,730,000 after purchasing an additional 24,968 shares during the last quarter. Empowered Funds LLC grew its holdings in Ameriprise Financial by 19.9% during the third quarter. Empowered Funds LLC now owns 8,021 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 1,329 shares during the last quarter. SpiderRock Advisors LLC lifted its stake in shares of Ameriprise Financial by 136.3% in the third quarter. SpiderRock Advisors LLC now owns 3,237 shares of the financial services provider’s stock worth $1,521,000 after buying an additional 1,867 shares during the last quarter. Finally, Aljian Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 3rd quarter worth $458,000. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the business’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 transaction, the insider now owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated 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 sale, the insider now directly owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,715 shares of company stock worth $11,983,436. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley increased their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada increased their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One investment 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 MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Trading Up 0.3 %

AMP stock opened at $563.49 on Friday. The business’s 50 day moving average is $548.17 and its 200-day 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 firm has a market cap of $54.66 billion, a P/E ratio of 21.63, a P/E/G ratio of 0.85 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99.

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.