Jackson Creek Investment Advisors LLC Purchases Shares of 846 Ameriprise Financial, Inc. (NYSE:AMP)

Jackson Creek Investment Advisors LLC acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 846 shares of the financial services provider’s stock, valued at approximately $361,000.

Several other large investors also recently modified their holdings of the stock. Retirement Group LLC bought a new position in Ameriprise Financial during the first quarter worth $25,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 43 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $28,000. Finally, Bank & Trust Co bought a new stake in Ameriprise Financial in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMP. Jefferies Financial Group raised their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $442.91 on Thursday. The business’s fifty day simple moving average is $427.77 and its 200 day simple moving average is $425.41. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $450.35. The firm has a market capitalization of $43.99 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $7.44 EPS. As a group, analysts anticipate that Ameriprise Financial, Inc. will post 34.81 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

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.