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

Chevy Chase Trust Holdings LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 48,388 shares of the financial services provider’s stock after selling 2,190 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Ameriprise Financial were worth $23,771,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Ameriprise Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after acquiring an additional 111,386 shares in the last quarter. JPMorgan Chase & Co. raised its position in Ameriprise Financial by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock valued at $3,347,019,000 after purchasing an additional 446,080 shares in the last quarter. Norges Bank bought a new stake in Ameriprise Financial during the second quarter worth about $693,736,000. Boston Partners lifted its stake in Ameriprise Financial by 1.1% during the third quarter. Boston Partners now owns 1,193,048 shares of the financial services provider’s stock worth $586,083,000 after purchasing an additional 13,172 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Ameriprise Financial by 29.3% in the 3rd 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 in the last quarter. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMP has been the topic of several recent research reports. 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 report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. Piper Sandler raised shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $555.67.

Ameriprise Financial Stock Down 0.8%

AMP opened at $438.44 on Tuesday. The company has a market cap of $39.98 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.03 and a beta of 1.27. The business’s 50-day moving average price is $490.18 and its 200-day moving average price is $484.16. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $550.18.

Ameriprise Financial (NYSE:AMP) last issued 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 during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the prior year, the business posted $9.54 EPS. Ameriprise Financial’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders 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 yield of 1.5%. Ameriprise Financial’s payout ratio is presently 17.60%.

Insider Activity

In other news, CEO William F. Truscott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total value of $2,660,400.00. Following the transaction, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.57% of the stock is currently owned by company insiders.

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.