Kerusso Capital Management LLC Has $6.94 Million Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Kerusso Capital Management LLC lifted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,025 shares of the financial services provider’s stock after purchasing an additional 29 shares during the quarter. Ameriprise Financial comprises approximately 4.4% of Kerusso Capital Management LLC’s holdings, making the stock its biggest position. Kerusso Capital Management LLC’s holdings in Ameriprise Financial were worth $6,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Ameriprise Financial by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after acquiring an additional 358,699 shares during the period. Geode Capital Management LLC boosted its stake in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock valued at $1,222,943,000 after purchasing an additional 31,158 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Ameriprise Financial by 429.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock valued at $222,103,000 after purchasing an additional 338,298 shares during the period. Maj Invest Holding A S boosted its stake in Ameriprise Financial by 67.5% in the 4th quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after purchasing an additional 141,927 shares during the period. Finally, AustralianSuper Pty Ltd boosted its stake in Ameriprise Financial by 41.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 256,309 shares of the financial services provider’s stock valued at $136,467,000 after purchasing an additional 74,705 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $546.69 on Monday. The stock has a market capitalization of $53.04 billion, a PE ratio of 16.54, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.65. The business has a fifty day moving average price of $541.20 and a two-hundred day moving average price of $505.72. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted 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 return on equity of 69.35% and a net margin of 19.70%. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares in the company, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler boosted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $510.44.

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.