Creative Planning Has $10.60 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Creative Planning increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,571 shares of the financial services provider’s stock after buying an additional 348 shares during the quarter. Creative Planning’s holdings in Ameriprise Financial were worth $10,604,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMP. Retirement Group LLC bought a new stake in Ameriprise Financial in the 1st quarter valued at $25,000. DiNuzzo Private Wealth Inc. boosted its stake in Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in Ameriprise Financial in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the first quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC boosted its stake in shares of Ameriprise Financial by 153.8% during the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMP. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $485.00 to $476.00 in a research note on Thursday, September 26th. Piper Sandler cut their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada lifted their target price on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $480.44.

Ameriprise Financial Stock Down 0.6 %

AMP stock opened at $519.39 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $524.89. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock’s fifty day simple moving average is $462.17 and its two-hundred day simple moving average is $438.49. The stock has a market cap of $51.59 billion, a P/E ratio of 17.68, a P/E/G ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $7.44 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts expect that Ameriprise Financial, Inc. will post 34.92 EPS for the current year.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

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.