Resonant Capital Advisors LLC Purchases 87 Shares of Ameriprise Financial, Inc. $AMP

Resonant Capital Advisors LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 16.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 618 shares of the financial services provider’s stock after purchasing an additional 87 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Ameriprise Financial were worth $330,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Trust Co. of Vermont grew its stake in shares of Ameriprise Financial by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 19 shares during the period. Plancorp LLC grew its stake in shares of Ameriprise Financial by 4.8% during the 1st quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors grew its stake in shares of Ameriprise Financial by 1.5% during the 2nd quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock valued at $737,000 after purchasing an additional 20 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Ameriprise Financial by 0.5% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,096 shares of the financial services provider’s stock valued at $2,186,000 after purchasing an additional 20 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in shares of Ameriprise Financial by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 21 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. Morgan Stanley lowered their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial lifted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research report on Friday, July 25th. BMO Capital Markets assumed coverage on Ameriprise Financial in a research report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating on the stock in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $539.50.

Insider Activity at Ameriprise Financial

In other news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This trade represents a 47.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Up 1.2%

NYSE AMP opened at $484.72 on Tuesday. The stock’s 50 day moving average is $493.96 and its 200 day moving average is $503.12. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05. The stock has a market cap of $45.69 billion, a PE ratio of 15.08, a P/E/G ratio of 1.07 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.