Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,468 shares of the financial services provider’s stock after selling 1,642 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Ameriprise Financial worth $23,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMP. Norges Bank acquired a new position in Ameriprise Financial in the 4th quarter worth about $514,539,000. JPMorgan Chase & Co. raised its holdings in shares of Ameriprise Financial by 18.6% during the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after acquiring an additional 603,267 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after acquiring an additional 512,884 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after acquiring an additional 358,780 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Ameriprise Financial during the first quarter valued at approximately $108,938,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Argus increased their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Keefe, Bruyette & Woods dropped their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Morgan Stanley dropped their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada upped their price target on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, UBS Group reduced their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Stock Down 0.3 %

AMP traded down $1.40 on Tuesday, hitting $433.94. 427,106 shares of the company were exchanged, compared to its average volume of 489,165. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $449.94. The company has a market cap of $43.10 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $426.11 and a two-hundred day moving average price of $421.64.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm posted $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts predict that Ameriprise Financial, Inc. will post 34.77 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.36%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.