Kestra Private Wealth Services LLC Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kestra Private Wealth Services LLC lifted its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 44.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,269 shares of the financial services provider's stock after acquiring an additional 1,316 shares during the period. Kestra Private Wealth Services LLC's holdings in Ameriprise Financial were worth $2,067,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Ameriprise Financial by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,801,913 shares of the financial services provider's stock worth $2,556,683,000 after acquiring an additional 516,437 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Ameriprise Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 2,647,627 shares of the financial services provider's stock worth $1,407,607,000 after acquiring an additional 38,141 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Ameriprise Financial by 49,248.9% in the first quarter. GAMMA Investing LLC now owns 2,114,108 shares of the financial services provider's stock worth $1,023,461,000 after acquiring an additional 2,109,824 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Ameriprise Financial by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,447,863 shares of the financial services provider's stock worth $770,886,000 after acquiring an additional 23,655 shares during the period. Finally, Norges Bank bought a new position in shares of Ameriprise Financial in the fourth quarter worth $689,272,000. 83.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley lowered Ameriprise Financial from an "equal weight" rating to an "underweight" rating and raised their price target for the stock from $462.00 to $530.00 in a report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on Ameriprise Financial from $565.00 to $595.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Piper Sandler lifted their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price objective 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, Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price objective for the company in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Ameriprise Financial presently has a consensus rating of "Hold" and an average price target of $524.71.

Ameriprise Financial Price Performance

AMP stock traded down $21.16 during mid-day trading on Thursday, hitting $515.80. 391,077 shares of the stock were exchanged, compared to its average volume of 514,906. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.60 and a quick ratio of 0.60. The business has a fifty day moving average price of $522.32 and a 200 day moving average price of $511.58. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05. The stock has a market capitalization of $49.11 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.15 and a beta of 1.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.11. Ameriprise Financial had a return on equity of 68.93% and a net margin of 17.14%. During the same quarter last year, the company earned $8.72 earnings per share. The business's quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.24%. Ameriprise Financial's dividend payout ratio is currently 21.75%.

Ameriprise Financial declared that its board has approved a stock buyback program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

About Ameriprise Financial

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.