Carret Asset Management LLC Trims Position in Ameriprise Financial, Inc. $AMP

Carret Asset Management LLC lessened its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.8% during the second quarter, HoldingsChannel reports. The firm owned 6,723 shares of the financial services provider’s stock after selling 195 shares during the quarter. Carret Asset Management LLC’s holdings in Ameriprise Financial were worth $3,588,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock worth $2,819,900,000 after purchasing an additional 1,023,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ameriprise Financial by 55.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock worth $1,086,724,000 after purchasing an additional 796,925 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock worth $578,852,000 after purchasing an additional 266,631 shares during the period. Nuveen LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth $469,334,000. Finally, Royal Bank of Canada lifted its stake in shares of Ameriprise Financial by 1.1% during the 1st quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock worth $354,870,000 after purchasing an additional 7,840 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada increased their target price on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Evercore ISI cut their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley cut their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Raymond James Financial increased their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $539.50.

Ameriprise Financial Stock Down 1.6%

Shares of NYSE AMP opened at $476.86 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a market cap of $44.95 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.08 and a beta of 1.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $492.97 and a 200 day moving average price of $503.37.

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.