Kestra Investment Management LLC Cuts Stock Holdings in Ameriprise Financial, Inc. $AMP

Key Points

• Kestra Investment Management LLC has significantly reduced its stake in Ameriprise Financial by 47.2%, now holding just 1,718 shares, worth approximately $832,000.
• Analysts have mixed views on Ameriprise Financial, with ratings ranging from Strong Buy to Sell, while the average target price is set at $534.71.
• Ameriprise Financial recently reported a quarterly earnings per share of $9.11, exceeding analyst estimates, and declared a quarterly dividend of $1.60 per share.

Kestra Investment Management LLC lowered its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 47.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,718 shares of the financial services provider's stock after selling 1,537 shares during the quarter. Kestra Investment Management LLC's holdings in Ameriprise Financial were worth $832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMP. Brighton Jones LLC lifted its position in Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after acquiring an additional 50 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Ameriprise Financial during the 4th quarter worth about $633,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Ameriprise Financial by 102.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 780 shares of the financial services provider's stock worth $415,000 after acquiring an additional 394 shares during the period. Clark Capital Management Group Inc. lifted its position in Ameriprise Financial by 30.1% during the 4th quarter. Clark Capital Management Group Inc. now owns 639 shares of the financial services provider's stock worth $340,000 after acquiring an additional 148 shares during the period. Finally, Fiduciary Trust Co lifted its position in Ameriprise Financial by 15.7% during the 4th quarter. Fiduciary Trust Co now owns 3,671 shares of the financial services provider's stock worth $1,955,000 after acquiring an additional 497 shares during the period. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Transactions at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,929 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the transaction, the chief executive officer owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. This represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Heather J. Melloh sold 1,500 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Ameriprise Financial Price Performance

NYSE AMP traded down $3.82 during trading hours on Friday, reaching $497.15. The company's stock had a trading volume of 302,141 shares, compared to its average volume of 401,374. The firm has a market capitalization of $46.87 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 1.27. Ameriprise Financial, Inc. has a 1-year low of $396.14 and a 1-year 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's 50-day moving average is $515.73 and its two-hundred day moving average is $502.89.

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

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial's dividend payout ratio is presently 19.91%.

Analysts Set New Price Targets

A number of brokerages have commented on AMP. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $520.00 to $550.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Piper Sandler boosted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. 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 report on Friday, July 25th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $534.71.

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.