Chemistry Wealth Management LLC Has $2.03 Million Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Chemistry Wealth Management LLC increased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% during the fourth quarter, HoldingsChannel reports. The fund owned 3,810 shares of the financial services provider’s stock after buying an additional 114 shares during the period. Chemistry Wealth Management LLC’s holdings in Ameriprise Financial were worth $2,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMP. Oakworth Capital Inc. acquired a new stake in shares of Ameriprise Financial during the third quarter worth $31,000. Country Trust Bank increased its stake 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 last quarter. Peterson Financial Group Inc. acquired a new stake in Ameriprise Financial in the 3rd quarter valued at $45,000. Friedenthal Financial acquired a new stake in Ameriprise Financial in the 4th quarter valued at $58,000. Finally, Trifecta Capital Advisors LLC increased its stake in Ameriprise Financial by 31.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after buying an additional 33 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Ameriprise Financial Stock Up 0.9 %

Ameriprise Financial stock opened at $551.61 on Friday. The firm has a market capitalization of $53.51 billion, a PE ratio of 21.18, a P/E/G ratio of 0.78 and a beta of 1.36. The company’s 50-day moving average is $548.42 and its 200-day moving average is $488.11. Ameriprise Financial, Inc. has a fifty-two week low of $369.29 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.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMP. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group lowered shares of 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 note on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada lifted their price target 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. Finally, Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $494.89.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction 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 approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’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 completion of the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. 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. Company insiders own 0.73% of the company’s stock.

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.