Chase Investment Counsel Corp Makes New Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Chase Investment Counsel Corp purchased a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,600 shares of the financial services provider's stock, valued at approximately $987,000.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Ameriprise Financial in the third quarter worth approximately $25,000. Carmel Capital Partners LLC purchased a new stake in Ameriprise Financial during the 3rd quarter valued at $30,000. Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the 4th quarter worth $34,000. Wetzel Investment Advisors Inc. bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $34,000. Finally, Fortitude Family Office LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at about $39,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMP has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an "underweight" rating in a report on Friday, April 5th. Morgan Stanley boosted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. Raymond James began coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a "market perform" rating for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a "market perform" rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an "outperform" rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $449.57.

Ameriprise Financial Stock Up 1.5 %

AMP traded up $6.34 during trading on Monday, reaching $416.35. The stock had a trading volume of 395,381 shares, compared to its average volume of 502,805. The stock's 50 day moving average is $419.02 and its two-hundred day moving average is $382.14. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67. The company has a market capitalization of $41.71 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.70 and a beta of 1.36. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm posted $7.25 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. As a group, analysts expect that Ameriprise Financial, Inc. will post 34.65 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial's dividend payout ratio is presently 18.38%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the transaction, the chief financial officer now owns 6,409 shares of the company's stock, valued at approximately $2,485,474.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares of the company's stock, valued at approximately $4,832,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Insiders have sold 74,326 shares of company stock valued at $29,775,593 over the last ninety days. Insiders own 0.96% of the company's stock.

Ameriprise Financial 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.