Kestra Advisory Services LLC Sells 3,322 Shares of Ameriprise Financial, Inc. $AMP

Kestra Advisory Services LLC decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 34.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,361 shares of the financial services provider’s stock after selling 3,322 shares during the period. Kestra Advisory Services LLC’s holdings in Ameriprise Financial were worth $2,827,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SouthState Bank Corp lifted its holdings in shares of Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares during the period. Holos Integrated Wealth LLC purchased a new stake in Ameriprise Financial during the fourth quarter valued at $30,000. Ares Financial Consulting LLC bought a new position in Ameriprise Financial in the fourth quarter valued at about $32,000. Prosperity Bancshares Inc purchased a new position in Ameriprise Financial in the fourth quarter worth about $33,000. Finally, Evolution Wealth Management Inc. bought a new stake in shares of Ameriprise Financial during the 1st quarter valued at about $34,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $465.83, for a total value of $558,996.00. Following the completion of the transaction, the director directly owned 6,300 shares in the company, valued at $2,934,729. This represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gerard P. Smyth sold 6,255 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $472.52, for a total transaction of $2,955,612.60. Following the completion of the sale, the executive vice president directly owned 6,103 shares of the company’s stock, valued at approximately $2,883,789.56. This trade represents a 50.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMP shares. Piper Sandler increased their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Morgan Stanley increased their price target on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a research report on Friday, July 10th. BMO Capital Markets lifted their price target on shares of Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods began coverage on shares of Ameriprise Financial in a research note on Friday, April 10th. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $553.67.

Ameriprise Financial Stock Down 1.0%

NYSE AMP opened at $527.91 on Friday. The stock’s 50-day moving average price is $470.45 and its 200-day moving average price is $473.87. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial, Inc. has a 52 week low of $422.37 and a 52 week high of $550.18. The company has a market capitalization of $47.46 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $11.26 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $1.05. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Ameriprise Financial had a return on equity of 62.88% and a net margin of 20.57%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $9.50 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 43.74 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 4th were issued a dividend of $1.70 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, May 4th. Ameriprise Financial’s payout ratio is presently 16.91%.

Ameriprise Financial Profile

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.