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

JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 12.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,801,913 shares of the financial services provider’s stock after buying an additional 516,437 shares during the period. JPMorgan Chase & Co.’s holdings in Ameriprise Financial were worth $2,556,683,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in Ameriprise Financial during the 4th quarter valued at $28,000. Rialto Wealth Management LLC bought a new position in Ameriprise Financial in the 4th quarter worth $28,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Ameriprise Financial during the 4th quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at about $36,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

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

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

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

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,023 shares in the company, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $5,231,200. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,636 shares of company stock valued at $6,263,989 over the last ninety days. Insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

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

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.