Ameriprise Financial, Inc. (NYSE:AMP) Shares Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 30.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,400 shares of the financial services provider’s stock after purchasing an additional 800 shares during the quarter. Chase Investment Counsel Corp’s holdings in Ameriprise Financial were worth $1,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empirical Finance LLC grew its holdings in Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after acquiring an additional 113 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Ameriprise Financial by 0.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock worth $5,166,000 after purchasing an additional 73 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ameriprise Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock worth $42,238,000 after purchasing an additional 4,203 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Ameriprise Financial during the fourth quarter valued at approximately $775,000. Finally, State Board of Administration of Florida Retirement System boosted 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 in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.9 %

Shares of AMP traded down $3.77 during trading hours on Thursday, reaching $439.14. The company’s stock had a trading volume of 39,765 shares, compared to its average volume of 477,954. The company has a 50 day moving average of $427.77 and a two-hundred day moving average of $425.41. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The firm has a market cap of $43.62 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 0.78 and a beta of 1.37. Ameriprise Financial, Inc. has a 1-year low of $306.63 and a 1-year high of $450.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share 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 firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the business earned $7.44 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued 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 1.35%. Ameriprise Financial’s dividend payout ratio is 20.15%.

Analysts Set New Price Targets

Several research analysts have issued reports on AMP shares. UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler reduced their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Jefferies Financial Group increased their price target on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley decreased their target price on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $464.33.

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 of the company’s stock, valued at approximately $5,834,881.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

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.