Chesley Taft & Associates LLC Trims Position in Ameriprise Financial, Inc. $AMP

Chesley Taft & Associates LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 37.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,344 shares of the financial services provider’s stock after selling 3,173 shares during the period. Chesley Taft & Associates LLC’s holdings in Ameriprise Financial were worth $2,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AMP. Qube Research & Technologies Ltd lifted its position in Ameriprise Financial by 140.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after acquiring an additional 275,659 shares during the period. Man Group plc raised its stake in shares of Ameriprise Financial by 687.4% during the third quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after purchasing an additional 241,665 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after purchasing an additional 219,080 shares during the last quarter. Close Asset Management Ltd lifted its holdings in shares of Ameriprise Financial by 78.2% during the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock worth $227,652,000 after purchasing an additional 203,252 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of Ameriprise Financial by 1,776.6% during the third quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider’s stock worth $94,951,000 after purchasing an additional 182,985 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $436.98 on Monday. The stock has a fifty day moving average price of $478.56 and a 200 day moving average price of $480.21. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $39.84 billion, a PE ratio of 12.02, a P/E/G ratio of 1.01 and a beta of 1.27. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $550.18.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the company earned $9.54 earnings per share. Ameriprise Financial’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the completion of the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Truscott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the sale, the chief executive officer directly owned 12,149 shares in the company, valued at $6,464,239.92. This trade represents a 29.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 16,658 shares of company stock valued at $8,998,675. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMP. Royal Bank Of Canada reissued an “outperform” rating and issued 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 raised their target price on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $434.00 to $530.00 in a report on Friday, January 30th. Raymond James Financial set a $582.00 price target on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average price target of $555.67.

Ameriprise Financial Profile

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.