Crossmark Global Holdings Inc. Increases Stake in Ameriprise Financial, Inc. $AMP

Crossmark Global Holdings Inc. grew its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 25.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,625 shares of the financial services provider’s stock after buying an additional 2,521 shares during the period. Crossmark Global Holdings Inc.’s holdings in Ameriprise Financial were worth $6,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Ameriprise Financial by 2.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 733 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 21 shares during the period. CreativeOne Wealth LLC grew its position in Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock valued at $497,000 after buying an additional 21 shares during the period. Rexford Capital Inc. grew its position in Ameriprise Financial by 20.6% during the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after buying an additional 21 shares during the period. Dakota Community Bank & Trust NA increased its holdings in Ameriprise Financial by 2.4% in the third quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after buying an additional 22 shares in the last quarter. Finally, RWA Wealth Partners LLC increased its holdings in Ameriprise Financial by 0.5% in the second quarter. RWA Wealth Partners LLC now owns 4,367 shares of the financial services provider’s stock valued at $2,331,000 after buying an additional 23 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

AMP opened at $464.84 on Friday. The firm’s fifty day simple moving average is $495.95 and its two-hundred day simple moving average is $487.22. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $550.18. The company has a market cap of $42.38 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.10 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the company earned $9.54 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 9th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, February 9th. Ameriprise Financial’s payout ratio is 17.60%.

Analyst Upgrades and Downgrades

AMP has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Argus cut their price target on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Jefferies Financial Group upped their price target on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the stock a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $434.00 to $530.00 in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $555.67.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total value of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $532.08, for a total value of $2,660,400.00. Following the sale, the chief executive officer owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 16,658 shares of company stock worth $8,998,675. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.