JPMorgan Chase & Co. Boosts Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

JPMorgan Chase & Co. raised its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,801,913 shares of the financial services provider’s stock after acquiring an additional 516,437 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.95% of Ameriprise Financial worth $2,556,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Howard Capital Management Group LLC grew its stake in shares of Ameriprise Financial by 11.1% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,787 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 178 shares during the period. Private Trust Co. NA raised its stake in Ameriprise Financial by 21.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the financial services provider’s stock valued at $409,000 after acquiring an additional 151 shares during the period. Dai ichi Life Insurance Company Ltd lifted its holdings in Ameriprise Financial by 369.5% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 3,812 shares of the financial services provider’s stock valued at $1,791,000 after purchasing an additional 3,000 shares during the last quarter. D.A. Davidson & CO. boosted its position in Ameriprise Financial by 1.1% during the third quarter. D.A. Davidson & CO. now owns 4,491 shares of the financial services provider’s stock worth $2,110,000 after purchasing an additional 47 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Ameriprise Financial by 8.0% in the third quarter. Townsquare Capital LLC now owns 7,047 shares of the financial services provider’s stock worth $3,311,000 after purchasing an additional 520 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler upped their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Morgan Stanley lifted their price target on Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Finally, UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $580.00 to $570.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $514.89.

Insiders Place Their Bets

In related news, CEO William F. Truscott sold 6,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total transaction of $2,499,128.52. Following the completion of the sale, the insider now directly owns 7,237 shares of the company’s stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,636 shares of company stock valued at $6,263,989 over the last 90 days. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP opened at $499.19 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $525.95 and a 200-day moving average price of $522.12. The company has a market cap of $47.98 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.33. Ameriprise Financial, Inc. has a 12-month low of $385.74 and a 12-month high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, equities analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were given a dividend of $1.48 per share. The ex-dividend date was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.19%. Ameriprise Financial’s payout ratio is 17.91%.

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.