Chesapeake Wealth Management Lowers Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Chesapeake Wealth Management trimmed its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 650 shares of the financial services provider’s stock after selling 54 shares during the period. Chesapeake Wealth Management’s holdings in Ameriprise Financial were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Swedbank AB purchased a new position in Ameriprise Financial in the first quarter valued at $108,938,000. Maj Invest Holding A S acquired a new stake in shares of Ameriprise Financial during the 3rd quarter valued at about $98,742,000. AGF Management Ltd. raised its holdings in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after purchasing an additional 131,844 shares during the period. Dimensional Fund Advisors LP boosted its position in Ameriprise Financial by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Ameriprise Financial in the third quarter valued at approximately $456,890,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Up 0.5 %

Shares of NYSE AMP opened at $565.15 on Tuesday. Ameriprise Financial, Inc. has a 12-month low of $343.98 and a 12-month high of $569.47. The stock has a market cap of $54.83 billion, a PE ratio of 21.69, a P/E/G ratio of 0.98 and a beta of 1.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $499.13 and a 200 day moving average of $454.27.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $1.48 dividend. The ex-dividend date of this dividend 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 22.73%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares of the company’s stock, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,415 shares of company stock valued at $15,829,445 in the last 90 days. Company 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.