Delta Investment Management LLC Trims Holdings in Ameriprise Financial, Inc. $AMP

Delta Investment Management LLC trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 20.3% during the second quarter, Holdings Channel.com reports. The firm owned 484 shares of the financial services provider’s stock after selling 123 shares during the period. Delta Investment Management LLC’s holdings in Ameriprise Financial were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Ameriprise Financial by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after purchasing an additional 1,023,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Ameriprise Financial by 55.0% in 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 valued at $1,086,724,000 after purchasing an additional 796,925 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Ameriprise Financial by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after purchasing an additional 266,631 shares in the last quarter. Nuveen LLC purchased a new position in Ameriprise Financial in the 1st quarter valued at about $469,334,000. Finally, Royal Bank of Canada lifted its holdings in Ameriprise Financial by 1.1% in the 1st quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock valued at $354,870,000 after purchasing an additional 7,840 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 1.2%

AMP opened at $484.72 on Tuesday. The firm has a 50 day moving average price of $493.96 and a 200 day moving average price of $503.12. The company has a market cap of $45.69 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMP. William Blair lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Evercore ISI cut their price objective on shares of Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a report on Thursday, October 9th. Finally, Morgan Stanley cut their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $539.50.

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.