Jackson Wealth Management LLC Grows Stake in Ameriprise Financial, Inc. $AMP

Jackson Wealth Management LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% during the second quarter, HoldingsChannel reports. The fund owned 8,551 shares of the financial services provider’s stock after purchasing an additional 85 shares during the period. Jackson Wealth Management LLC’s holdings in Ameriprise Financial were worth $4,564,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Ascent Group LLC increased its holdings in shares of Ameriprise Financial by 5.0% in the 2nd quarter. Ascent Group LLC now owns 804 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 38 shares during the last quarter. New Century Financial Group LLC purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $249,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Ameriprise Financial by 44.7% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,071 shares of the financial services provider’s stock worth $572,000 after buying an additional 331 shares during the last quarter. Abundance Wealth Counselors grew its stake in Ameriprise Financial by 75.1% during the 2nd quarter. Abundance Wealth Counselors now owns 2,323 shares of the financial services provider’s stock worth $1,240,000 after buying an additional 996 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in Ameriprise Financial during the 2nd quarter worth approximately $2,831,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMP. Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. William Blair downgraded Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a research note on Saturday, September 27th. Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Finally, Raymond James Financial lifted their target price on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $535.14.

Insider Activity at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares of the company’s stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by company insiders.

Ameriprise Financial Stock Up 0.2%

AMP opened at $491.67 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50 day simple moving average of $502.93 and a 200-day simple moving average of $502.10. The stock has a market capitalization of $46.35 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.11 and a beta of 1.26. Ameriprise Financial, Inc. has a 12 month low of $396.14 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $8.72 EPS. On average, equities analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 19.91%.

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.