Ameriprise Financial, Inc. (NYSE:AMP) Stake Boosted by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 174.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,590 shares of the financial services provider’s stock after purchasing an additional 2,918 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Ameriprise Financial were worth $2,435,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after acquiring an additional 358,699 shares during the period. Maj Invest Holding A S acquired a new position in Ameriprise Financial during the 3rd quarter valued at about $98,742,000. Assenagon Asset Management S.A. grew its position in Ameriprise Financial by 816.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after purchasing an additional 195,271 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Ameriprise Financial by 144.0% in the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $456,890,000. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMP has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada raised their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley upped their price objective 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. 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. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $494.89.

Insider Transactions at Ameriprise Financial

In other news, insider Gumer Alvero sold 2,325 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last three months. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Trading Up 0.3 %

Ameriprise Financial stock opened at $563.49 on Friday. The firm has a market cap of $54.66 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. Ameriprise Financial, Inc. has a 1 year low of $370.12 and a 1 year high of $577.00. The firm’s 50 day moving average price is $548.17 and its two-hundred day moving average price is $491.97. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

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.