CHICAGO TRUST Co NA Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

CHICAGO TRUST Co NA boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,290 shares of the financial services provider’s stock after buying an additional 236 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Ameriprise Financial were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Retirement Group LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth about $25,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in Ameriprise Financial during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial in the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC increased its stake in Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Institutional investors own 83.95% of the company’s stock.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

NYSE AMP opened at $502.50 on Friday. The firm’s fifty day simple moving average is $445.74 and its two-hundred day simple moving average is $434.45. The firm has a market capitalization of $49.34 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $502.97.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $7.44 EPS. Analysts forecast that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMP. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Jefferies Financial Group upped their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Royal Bank of Canada increased their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus target price of $473.56.

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.