Chicago Partners Investment Group LLC Purchases 89 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Chicago Partners Investment Group LLC raised its position in Ameriprise Financial, Inc. (NYSE:AMP) by 21.1% in the 4th quarter, HoldingsChannel reports. The fund owned 510 shares of the financial services provider’s stock after purchasing an additional 89 shares during the period. Chicago Partners Investment Group LLC’s holdings in Ameriprise Financial were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Oakworth Capital Inc. bought a new position in Ameriprise Financial in the third quarter worth $31,000. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial during the 4th quarter worth about $36,000. Country Trust Bank lifted its holdings in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 47 shares during the period. Albion Financial Group UT acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $46,000. Finally, Peterson Financial Group Inc. bought a new stake in Ameriprise Financial in the third quarter valued at about $45,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Ameriprise Financial Trading Down 0.2 %

AMP opened at $535.83 on Wednesday. Ameriprise Financial, Inc. has a 1-year low of $385.56 and a 1-year high of $582.05. The stock has a market capitalization of $51.98 billion, a PE ratio of 16.21, a PEG ratio of 1.18 and a beta of 1.36. The company has a current ratio of 0.59, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $546.89 and a two-hundred day moving average price of $499.39.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.68 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. Ameriprise Financial’s payout ratio is currently 17.91%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday. Morgan Stanley upped their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $510.44.

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.