Chesley Taft & Associates LLC Acquires 2,992 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Chesley Taft & Associates LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 48.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,158 shares of the financial services provider’s stock after acquiring an additional 2,992 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Ameriprise Financial were worth $4,876,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMP. Oakworth Capital Inc. bought a new position in shares of Ameriprise Financial in the third quarter worth about $31,000. Country Trust Bank boosted its position in Ameriprise Financial by 213.6% in the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the period. Peterson Financial Group Inc. bought a new position in Ameriprise Financial in the 3rd quarter worth about $45,000. Friedenthal Financial purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $58,000. Finally, Trifecta Capital Advisors LLC raised its stake in shares of Ameriprise Financial by 31.4% during the third quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Walter Stanley Berman sold 8,655 shares of the stock in a transaction on Monday, November 11th. The shares were 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 directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,715 shares of company stock valued at $11,983,436. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods reduced their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada increased their price objective on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $494.89.

Ameriprise Financial Stock Up 0.9 %

Ameriprise Financial stock opened at $551.61 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial, Inc. has a 52 week low of $369.29 and a 52 week high of $577.00. The business’s 50-day moving average price is $548.17 and its 200 day moving average price is $490.59. The firm has a market cap of $53.51 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.84 and a beta of 1.36.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

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.