Jackson Wealth Management LLC Raises Holdings in Ameriprise Financial, Inc. $AMP

Jackson Wealth Management LLC increased its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,551 shares of the financial services provider’s stock after purchasing an additional 85 shares during the quarter. Jackson Wealth Management LLC’s holdings in Ameriprise Financial were worth $4,564,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Ameriprise Financial during the first quarter worth approximately $29,000. TD Capital Management LLC grew its holdings in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after buying an additional 51 shares in the last quarter. WPG Advisers LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at $33,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at $36,000. Finally, TCTC Holdings LLC grew its holdings in Ameriprise Financial by 100.0% in the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock valued at $47,000 after buying an additional 49 shares in the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Ameriprise Financial Price Performance

AMP opened at $491.67 on Friday. The stock’s 50-day moving average price is $502.93 and its 200 day moving average price is $502.10. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm has a market cap of $46.35 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.11 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the company earned $8.72 EPS. Ameriprise Financial’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 annualized dividend and a yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 19.91%.

Analysts Set New Price Targets

AMP has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a report on Wednesday, July 9th. BMO Capital Markets initiated coverage on Ameriprise Financial in a report on Friday. They issued a “market perform” rating and a $525.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Ameriprise Financial in a report on Saturday, September 27th. Piper Sandler increased their price target on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $535.14.

Insider Activity

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the sale, the executive vice president owned 2,562 shares of the company’s stock, valued at $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The shares were 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 in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

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.