Kestra Private Wealth Services LLC Reduces 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% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,064 shares of the financial services provider’s stock after selling 30 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Ameriprise Financial were worth $1,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in shares of Ameriprise Financial in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Ameriprise Financial in the fourth quarter worth $34,000. Carmel Capital Partners LLC purchased a new position in Ameriprise Financial during the third quarter worth $30,000. Wetzel Investment Advisors Inc. bought a new position in Ameriprise Financial during the fourth quarter valued at $34,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at $39,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. Insiders sold a total of 74,326 shares of company stock worth $29,775,593 in the last three months. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE:AMP opened at $418.95 on Friday. The firm’s fifty day moving average is $419.94 and its two-hundred day moving average is $383.20. 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. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial, Inc. has a one year low of $279.85 and a one year high of $440.67.

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

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.41%. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. Ameriprise Financial’s payout ratio is 18.38%.

Wall Street Analyst Weigh In

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. UBS Group boosted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $449.57.

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.