Chevy Chase Trust Holdings LLC Reduces Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 2.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 52,891 shares of the financial services provider's stock after selling 1,577 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Ameriprise Financial worth $24,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMP. DiNuzzo Private Wealth Inc. raised its position in Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in Ameriprise Financial during the 2nd quarter valued at $26,000. Mascoma Wealth Management LLC raised its position in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Ameriprise Financial during the 2nd quarter valued at $29,000. Finally, Oakworth Capital Inc. bought a new stake in Ameriprise Financial during the 3rd quarter valued at $31,000. 83.95% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the company's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now directly owns 4,669 shares of the company's stock, valued at $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,715 shares of company stock valued at $11,983,436 in the last quarter. 0.96% of the stock is currently owned by company insiders.

Ameriprise Financial Stock Performance

AMP traded down $4.25 on Wednesday, reaching $561.47. 543,454 shares of the stock were exchanged, compared to its average volume of 471,092. The company's 50-day moving average price is $527.43 and its 200 day moving average price is $465.68. Ameriprise Financial, Inc. has a fifty-two week low of $349.90 and a fifty-two week high of $577.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $54.47 billion, a PE ratio of 21.55, a PEG ratio of 0.99 and a beta of 1.34.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 annualized dividend and a dividend yield of 1.05%. Ameriprise Financial's dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $475.00 to $510.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on Ameriprise Financial from $535.00 to $550.00 and gave the company an "outperform" rating in a report on Friday, October 25th. The Goldman Sachs Group downgraded Ameriprise Financial from a "buy" rating to a "neutral" rating and cut their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $487.67.

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.