Sound Income Strategies LLC Buys Shares of 67 Ameriprise Financial, Inc. (NYSE:AMP)

Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 67 shares of the financial services provider’s stock, valued at approximately $36,000.

Other large investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new position in Ameriprise Financial during the third quarter worth about $31,000. Country Trust Bank boosted its holdings in Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after buying an additional 47 shares during the period. Peterson Financial Group Inc. purchased a new position in Ameriprise Financial in the 3rd quarter valued at approximately $45,000. Albion Financial Group UT bought a new stake in Ameriprise Financial during the 4th quarter valued at $46,000. Finally, Friedenthal Financial purchased a new stake in shares of Ameriprise Financial during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP stock opened at $563.57 on Friday. The firm has a 50 day simple moving average of $548.23 and a two-hundred day simple moving average of $493.41. The stock has a market cap of $54.67 billion, a PE ratio of 21.63, a P/E/G ratio of 0.85 and a beta of 1.36. Ameriprise Financial, Inc. has a one year low of $370.12 and a one year high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank of Canada increased 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. Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $494.89.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred 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 directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,715 shares of company stock valued at $11,983,436. Insiders own 0.73% of the company’s stock.

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.