Checchi Capital Advisers LLC Reduces Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Checchi Capital Advisers LLC decreased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,128 shares of the financial services provider’s stock after selling 152 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Ameriprise Financial were worth $601,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the period. Geode Capital Management LLC grew its stake in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after buying an additional 338,298 shares during the period. Maj Invest Holding A S grew its stake in shares of Ameriprise Financial by 67.5% during the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after buying an additional 141,927 shares during the period. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Ameriprise Financial by 41.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock valued at $136,467,000 after acquiring an additional 74,705 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.6 %

Shares of AMP stock opened at $525.33 on Thursday. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a market capitalization of $50.49 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.15 and a beta of 1.36. The firm has a 50-day moving average price of $539.74 and a 200 day moving average price of $513.10. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $510.44.

Insider Buying and Selling

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 4,636 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the sale, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,636 shares of company stock worth $6,263,989. 0.96% of the stock is owned by insiders.

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.