New York Life Investment Management LLC Buys 23 Shares of Ameriprise Financial, Inc. $AMP

New York Life Investment Management LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,284 shares of the financial services provider’s stock after acquiring an additional 23 shares during the period. New York Life Investment Management LLC’s holdings in Ameriprise Financial were worth $7,624,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC grew its stake in Ameriprise Financial by 71.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 22 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares during the period. TD Capital Management LLC lifted its position in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 51 shares during the period. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $29,000. Finally, WPG Advisers LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth approximately $33,000. 83.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMP. Piper Sandler upped their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research report on Thursday, July 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada upped their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Finally, Evercore ISI lowered their price target on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research report on Thursday, October 9th. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $539.50.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction 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 $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. The trade was a 47.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 1.6%

NYSE:AMP opened at $476.86 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a 50 day moving average of $492.97 and a 200 day moving average of $503.37. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.08 and a beta of 1.26.

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.