Kerusso Capital Management LLC Has $3.15 Million Position in Ameriprise Financial, Inc. $AMP

Kerusso Capital Management LLC lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 37.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,407 shares of the financial services provider’s stock after selling 3,865 shares during the quarter. Ameriprise Financial comprises 1.9% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Kerusso Capital Management LLC’s holdings in Ameriprise Financial were worth $3,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMP. Whipplewood Advisors LLC grew its stake in Ameriprise Financial by 71.0% in the second quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 22 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Ameriprise Financial by 115.4% in the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Winnow Wealth LLC bought a new position in shares of Ameriprise Financial in the 2nd quarter worth $32,000. Heartwood Wealth Advisors LLC acquired a new stake in Ameriprise Financial in the 3rd quarter valued at $32,000. Finally, WFA of San Diego LLC bought a new stake in Ameriprise Financial during the 2nd quarter valued at $36,000. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $450.94, for a total transaction of $676,410.00. Following the completion of the transaction, the director owned 7,500 shares in the company, valued at approximately $3,382,050. This represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. Royal Bank Of Canada dropped their price objective on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Evercore ISI decreased their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ameriprise Financial in a research note on Monday, December 29th. Finally, Morgan Stanley raised their target price on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $528.75.

Ameriprise Financial Trading Up 0.2%

NYSE:AMP opened at $508.33 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $47.23 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.26 and a beta of 1.26. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a 50-day moving average price of $479.81 and a two-hundred day moving average price of $494.74.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.76 by $0.16. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.51 billion. Ameriprise Financial had a return on equity of 64.97% and a net margin of 20.12%.Ameriprise Financial’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $9.02 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, November 10th. Ameriprise Financial’s payout ratio is presently 17.55%.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.