Kestra Private Wealth Services LLC Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kestra Private Wealth Services LLC trimmed its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,064 shares of the financial services provider’s stock after selling 30 shares during the period. Kestra Private Wealth Services LLC’s holdings in Ameriprise Financial were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of Ameriprise Financial by 63.9% in the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock worth $115,517,000 after buying an additional 136,621 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Ameriprise Financial by 134.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 208,570 shares of the financial services provider’s stock worth $68,761,000 after acquiring an additional 119,578 shares during the period. Assenagon Asset Management S.A. grew its position in Ameriprise Financial by 107.0% in the third quarter. Assenagon Asset Management S.A. now owns 209,822 shares of the financial services provider’s stock valued at $69,174,000 after acquiring an additional 108,461 shares in the last quarter. Payden & Rygel Investment Group purchased a new stake in shares of Ameriprise Financial during the third quarter valued at approximately $28,382,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Ameriprise Financial by 398.5% during the third quarter. Canada Pension Plan Investment Board now owns 100,100 shares of the financial services provider’s stock worth $33,001,000 after purchasing an additional 80,020 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gerard P. Smyth sold 4,440 shares of Ameriprise Financial stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $407.92, for a total value of $1,811,164.80. Following the sale, the executive vice president now directly owns 3,787 shares in the company, valued at approximately $1,544,793.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,326 shares of company stock valued at $29,775,593. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AMP shares. Piper Sandler lifted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. UBS Group boosted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $449.57.

Ameriprise Financial Stock Up 0.9 %

AMP stock opened at $418.95 on Friday. The firm has a market cap of $41.97 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.70 and a beta of 1.35. Ameriprise Financial, Inc. has a 1-year low of $279.85 and a 1-year high of $440.67. The firm has a fifty day moving average price of $419.94 and a two-hundred day moving average price of $383.20. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $7.25 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts predict that Ameriprise Financial, Inc. will post 34.74 EPS for the current year.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a $1.48 dividend. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.41%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Ameriprise Financial Company 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.