Bessemer Group Inc. Sells 900 Shares of Ameriprise Financial, Inc. $AMP

Bessemer Group Inc. reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 12.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,565 shares of the financial services provider’s stock after selling 900 shares during the quarter. Bessemer Group Inc.’s holdings in Ameriprise Financial were worth $3,504,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMP. William Blair cut Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. Morgan Stanley cut their target price on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Raymond James Financial upped their target price on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 25th. Finally, Piper Sandler upped their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given 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, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $539.50.

Insiders Place Their Bets

In related news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value 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 $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Stock Down 1.6%

Shares of AMP opened at $476.86 on Thursday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.08 and a beta of 1.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a fifty day moving average of $492.97 and a 200-day moving average of $503.37.

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.