Chesapeake Wealth Management Has $301,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Chesapeake Wealth Management trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 704 shares of the financial services provider’s stock after selling 36 shares during the quarter. Chesapeake Wealth Management’s holdings in Ameriprise Financial were worth $301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Group LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in shares of Ameriprise Financial during the second quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Ameriprise Financial in the first quarter worth $28,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $460.61 on Friday. Ameriprise Financial, Inc. has a twelve month low of $306.63 and a twelve month high of $465.82. The stock’s 50 day moving average is $430.15 and its 200-day moving average is $428.48. 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 capitalization of $45.75 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.75 and a beta of 1.35.

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 analysts’ consensus estimates of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $7.44 earnings per share. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.81 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.29%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction that occurred on 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 owns 13,199 shares in the company, valued at $5,834,881.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AMP shares. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Finally, UBS Group lowered their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $464.33.

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.