Chesapeake Wealth Management Sells 36 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Chesapeake Wealth Management lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 704 shares of the financial services provider’s stock after selling 36 shares during the quarter. Chesapeake Wealth Management’s holdings in Ameriprise Financial were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC boosted its position in Ameriprise Financial by 3.0% in the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after purchasing an additional 113 shares during the last quarter. Nomura Holdings Inc. bought a new position in Ameriprise Financial during the fourth quarter valued at about $775,000. State Board of Administration of Florida Retirement System increased its holdings in Ameriprise Financial by 7.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after buying an additional 8,693 shares during the last quarter. TD Asset Management Inc raised its position in Ameriprise Financial by 151.5% in the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock worth $226,243,000 after acquiring an additional 358,780 shares during the period. Finally, BDF Gestion bought a new stake in Ameriprise Financial in the second quarter worth about $2,836,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Stock Down 0.7 %

Shares of NYSE AMP opened at $460.61 on Friday. The business has a 50-day simple moving average of $430.15 and a two-hundred day simple moving average of $428.48. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $465.82. The company has a market cap of $45.75 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $7.44 earnings per share. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts anticipate that Ameriprise Financial, Inc. will post 34.81 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.29%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. Jefferies Financial Group raised their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Piper Sandler dropped their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Morgan Stanley cut their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $464.33.

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.