Jackson Wealth Management LLC Has $3.40 Million Position in Ameriprise Financial, Inc. $AMP

Jackson Wealth Management LLC lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,933 shares of the financial services provider’s stock after selling 1,988 shares during the quarter. Jackson Wealth Management LLC’s holdings in Ameriprise Financial were worth $3,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd lifted its stake in shares of Ameriprise Financial by 140.5% in the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after buying an additional 275,659 shares during the last quarter. Man Group plc boosted its holdings in shares of Ameriprise Financial by 687.4% during the 3rd quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock worth $135,989,000 after buying an additional 241,665 shares during the period. Federated Hermes Inc. grew its stake in Ameriprise Financial by 29.3% in the 3rd quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock valued at $474,628,000 after buying an additional 219,080 shares during the last quarter. Close Asset Management Ltd grew its stake in Ameriprise Financial by 78.2% in the 3rd quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after buying an additional 203,252 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in Ameriprise Financial by 1,776.6% in the 3rd quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider’s stock worth $94,951,000 after acquiring an additional 182,985 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMP. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $434.00 to $530.00 in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Morgan Stanley increased their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $555.67.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the firm’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 completion of the sale, the chief executive officer owned 12,149 shares in the company, valued at approximately $6,464,239.92. This trade represents a 29.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at $3,052,529.98. The trade was a 55.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,658 shares of company stock worth $8,998,675 over the last three months. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $433.81 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.68 and a quick ratio of 0.68. Ameriprise Financial, Inc. has a one year low of $396.14 and a one year high of $550.18. The company has a fifty day moving average price of $472.10 and a 200 day moving average price of $478.36. The stock has a market cap of $39.55 billion, a P/E ratio of 11.93, a PEG ratio of 1.05 and a beta of 1.27.

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

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 dividend on an annualized basis and a yield of 1.5%. Ameriprise Financial’s dividend payout ratio (DPR) is 17.60%.

About Ameriprise Financial

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.