Chevy Chase Trust Holdings LLC Sells 419 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Chevy Chase Trust Holdings LLC lowered its position in Ameriprise Financial, Inc. (NYSE:AMP) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,110 shares of the financial services provider’s stock after selling 419 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Ameriprise Financial were worth $24,601,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Retirement Group LLC purchased a new stake in shares of Ameriprise Financial in the 1st quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the first quarter valued at about $28,000. Sound Income Strategies LLC purchased a new stake in Ameriprise Financial in the first quarter worth about $32,000. Annapolis Financial Services LLC grew its holdings in Ameriprise Financial by 928.6% during the 1st quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 65 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at about $34,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

AMP opened at $440.60 on Thursday. The firm’s 50-day moving average price is $431.82 and its 200-day moving average price is $413.74. The company has a market cap of $43.76 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 52-week low of $306.63 and a 52-week high of $446.32.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. Ameriprise Financial’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.25 EPS. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler cut their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. UBS Group decreased their price objective on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada lifted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $462.89.

About Ameriprise Financial

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.