Kestra Advisory Services LLC Has $4.49 Million Position in Ameriprise Financial, Inc. $AMP

Key Points

• Kestra Advisory Services LLC reduced its holdings in Ameriprise Financial, Inc. by 5.1%, selling 495 shares to end the quarter with 9,264 shares worth approximately $4.48 million.
• Ameriprise Financial reported $9.11 EPS for the last quarter, exceeding the consensus estimate by $0.11, with a revenue increase of 2.2% year-over-year.
• The company announced a quarterly dividend of $1.60, contributing to an annualized dividend of $6.40 and a dividend yield of 1.2%.

Kestra Advisory Services LLC lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,264 shares of the financial services provider's stock after selling 495 shares during the quarter. Kestra Advisory Services LLC's holdings in Ameriprise Financial were worth $4,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Ameriprise Financial in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new position in Ameriprise Financial in the 4th quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new stake in Ameriprise Financial during the 1st quarter worth about $36,000. Quarry LP boosted its position in Ameriprise Financial by 148.6% during the 4th quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after acquiring an additional 52 shares during the period. Finally, TCTC Holdings LLC boosted its position in Ameriprise Financial by 100.0% during the 1st quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 83.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMP shares. Royal Bank Of Canada lifted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and boosted their price objective for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Raymond James Financial boosted their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler increased their target price on Ameriprise Financial from $423.00 to $434.00 and gave the stock an "underweight" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $534.71.

Insider Buying and Selling at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Stock Down 0.2%

Shares of AMP traded down $1.17 during midday trading on Friday, hitting $515.46. The stock had a trading volume of 418,838 shares, compared to its average volume of 386,783. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $582.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.62. The company has a 50 day simple moving average of $521.88 and a two-hundred day simple moving average of $505.44. The firm has a market cap of $48.59 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the prior year, the company posted $8.72 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.

Ameriprise Financial 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.