Transcend Capital Advisors LLC Buys 347 Shares of Ameriprise Financial, Inc. $AMP

Transcend Capital Advisors LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,852 shares of the financial services provider’s stock after buying an additional 347 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Ameriprise Financial were worth $989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. NorthRock Partners LLC lifted its position in shares of Ameriprise Financial by 8.9% during the second quarter. NorthRock Partners LLC now owns 10,955 shares of the financial services provider’s stock worth $5,847,000 after purchasing an additional 897 shares during the last quarter. Ascent Group LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth $371,000. Advisory Alpha LLC bought a new stake in shares of Ameriprise Financial during the first quarter worth $265,000. Voya Investment Management LLC lifted its position in shares of Ameriprise Financial by 4.0% during the first quarter. Voya Investment Management LLC now owns 110,989 shares of the financial services provider’s stock worth $53,731,000 after purchasing an additional 4,232 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Ameriprise Financial during the first quarter worth $6,439,000. 83.95% of the stock is currently owned by institutional investors.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is owned by insiders.

Ameriprise Financial Price Performance

AMP opened at $484.67 on Wednesday. The business’s 50-day moving average is $493.54 and its two-hundred day moving average is $503.32. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $45.69 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMP shares. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Raymond James Financial raised their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Finally, Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $539.50.

Ameriprise Financial 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.