Ameriprise Financial, Inc. $AMP Position Boosted by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 980 shares of the financial services provider’s stock after acquiring an additional 48 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Ameriprise Financial were worth $523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMP. Trust Co. of Vermont grew its stake in shares of Ameriprise Financial by 0.6% in the 2nd quarter. Trust Co. of Vermont now owns 3,031 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 19 shares in the last quarter. Plancorp LLC boosted its position in Ameriprise Financial by 4.8% during the first quarter. Plancorp LLC now owns 441 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 20 shares during the period. Old Port Advisors boosted its position in Ameriprise Financial by 1.5% during the second quarter. Old Port Advisors now owns 1,381 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 20 shares during the period. Pinnacle Associates Ltd. boosted its position in Ameriprise Financial by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in Ameriprise Financial by 3.0% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 21 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMP shares. Keefe, Bruyette & Woods upped their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Piper Sandler upped their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. BMO Capital Markets started coverage on Ameriprise Financial in a report on Friday, October 3rd. They set a “market perform” rating and a $525.00 price target for the company. Evercore ISI cut their price target on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday. Finally, Morgan Stanley cut their price target on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $539.50.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $491.13 on Friday. The business has a fifty day simple moving average of $500.83 and a 200 day simple moving average of $501.95. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $46.30 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.10 and a beta of 1.26. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the company posted $8.72 earnings per share. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is 19.91%.

Ameriprise Financial Company 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.