Chevy Chase Trust Holdings LLC Sells 2,190 Shares of Ameriprise Financial, Inc. $AMP

Chevy Chase Trust Holdings LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 48,388 shares of the financial services provider’s stock after selling 2,190 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Ameriprise Financial worth $23,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Ameriprise Financial in the second quarter valued at approximately $693,736,000. JPMorgan Chase & Co. boosted its holdings in Ameriprise Financial by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after buying an additional 446,080 shares during the period. Man Group plc grew its stake in Ameriprise Financial by 687.4% in the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after buying an additional 241,665 shares in the last quarter. Federated Hermes Inc. grew its stake in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after buying an additional 219,080 shares in the last quarter. Finally, Close Asset Management Ltd grew its stake in Ameriprise Financial by 78.2% in the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after buying an additional 203,252 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Gumer Alvero sold 4,658 shares of Ameriprise Financial stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider owned 4,621 shares in the company, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,658 shares of company stock worth $8,998,675 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMP shares. Raymond James Financial set a $582.00 target price on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research note on Monday, February 2nd. Jefferies Financial Group increased their price objective on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Stock Down 0.8%

Shares of NYSE:AMP opened at $438.44 on Tuesday. The firm has a fifty day moving average price of $490.18 and a two-hundred day moving average price of $484.16. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.03 and a beta of 1.27. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the firm posted $9.54 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is presently 17.60%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.