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

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

Several other institutional investors have also modified their holdings of the company. Pallas Capital Advisors LLC grew its stake in shares of Ameriprise Financial by 82.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,497 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 676 shares in the last quarter. Accurate Wealth Management LLC raised its stake in Ameriprise Financial by 4.8% in the fourth quarter. Accurate Wealth Management LLC now owns 782 shares of the financial services provider’s stock valued at $397,000 after buying an additional 36 shares in the last quarter. Net Worth Advisory Group raised its stake in Ameriprise Financial by 17.8% in the fourth quarter. Net Worth Advisory Group now owns 3,515 shares of the financial services provider’s stock valued at $1,724,000 after buying an additional 532 shares in the last quarter. Dakota Wealth Management lifted its holdings in Ameriprise Financial by 12.6% during the 4th quarter. Dakota Wealth Management now owns 717 shares of the financial services provider’s stock worth $352,000 after buying an additional 80 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in Ameriprise Financial by 18.6% during the 4th quarter. Kathmere Capital Management LLC now owns 853 shares of the financial services provider’s stock worth $418,000 after buying an additional 134 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.0%

AMP opened at $436.98 on Monday. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18. 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 capitalization of $39.84 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.01 and a beta of 1.27. The business’s 50-day simple moving average is $478.56 and its 200-day simple moving average is $480.21.

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

Ameriprise Financial Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial set a $582.00 price objective on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $434.00 to $530.00 in a research note on Friday, January 30th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Finally, Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. One equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $555.67.

Insider Activity

In related news, CFO Walter Stanley Berman sold 7,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer owned 5,609 shares in the company, valued at $3,052,529.98. This represents a 55.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 5,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at approximately $6,464,239.92. This represents a 29.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,658 shares of company stock valued at $8,998,675. 0.60% of the stock is currently owned by company insiders.

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.