Kestra Private Wealth Services LLC Has $2.34 Million Stock Holdings in Ameriprise Financial, Inc. $AMP

Kestra Private Wealth Services LLC raised its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 46.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,763 shares of the financial services provider’s stock after purchasing an additional 1,513 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Ameriprise Financial were worth $2,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rexford Capital Inc. grew its stake in shares of Ameriprise Financial by 20.6% in the 3rd quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after buying an additional 21 shares during the period. PFG Investments LLC boosted its holdings in Ameriprise Financial by 1.4% during the 4th quarter. PFG Investments LLC now owns 1,488 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 21 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in Ameriprise Financial by 3.6% in the 4th quarter. Institute for Wealth Management LLC. now owns 605 shares of the financial services provider’s stock valued at $297,000 after buying an additional 21 shares during the last quarter. EPG Wealth Management LLC increased its position in shares of Ameriprise Financial by 0.8% during the fourth quarter. EPG Wealth Management LLC now owns 2,714 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 21 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Ameriprise Financial by 5.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 23 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Ameriprise Financial Stock Down 0.1%

Shares of NYSE:AMP opened at $474.97 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $43.31 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.16 and a beta of 1.27. Ameriprise Financial, Inc. has a 12-month low of $422.37 and a 12-month high of $550.18. The stock has a fifty day simple moving average of $454.79 and a two-hundred day simple moving average of $474.20.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating the consensus estimate of $10.21 by $1.05. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $9.50 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Ameriprise Financial, Inc. will post 41.39 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be paid a $1.70 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.60. The ex-dividend date is Monday, May 4th. This represents a $6.80 annualized dividend and a dividend yield of 1.4%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 15.92%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMP. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Jefferies Financial Group raised their target price on Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They set a “hold” rating on the stock. BMO Capital Markets lifted their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Raymond James Financial set a $582.00 price target on Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $542.00.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 7,000 shares of Ameriprise Financial stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,052,529.98. The trade was a 55.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the transaction, the insider directly owned 4,621 shares in the company, valued at approximately $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,658 shares of company stock valued at $8,998,675 over the last three months. Corporate insiders own 0.60% of the company’s stock.

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.