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

Chemistry Wealth Management LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $98,742,000. Assenagon Asset Management S.A. grew its stake in shares of Ameriprise Financial by 816.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock valued at $116,698,000 after purchasing an additional 195,271 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ameriprise Financial by 144.0% during the third quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $456,890,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. This trade represents a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the sale, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,715 shares of company stock valued at $11,983,436 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $551.61 on Friday. The firm’s 50 day moving average price is $548.42 and its two-hundred day moving average price is $488.11. The stock has a market cap of $53.51 billion, a PE ratio of 21.18, a PEG ratio of 0.78 and a beta of 1.36. Ameriprise Financial, Inc. has a 52-week low of $369.29 and a 52-week high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $1.48 per share. 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 is 22.73%.

Analyst Upgrades and Downgrades

AMP has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods decreased 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. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada raised 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. Finally, The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $494.89.

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.