Kestra Private Wealth Services LLC Has $1.57 Million Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Kestra Private Wealth Services LLC raised its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,953 shares of the financial services provider’s stock after purchasing an additional 29 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Ameriprise Financial were worth $1,572,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stephens Inc. AR increased its stake in Ameriprise Financial by 2.1% during the fourth quarter. Stephens Inc. AR now owns 2,189 shares of the financial services provider’s stock valued at $1,165,000 after acquiring an additional 44 shares during the period. Quotient Wealth Partners LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $238,000. Entropy Technologies LP bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at approximately $955,000. Wilmington Savings Fund Society FSB raised its stake in shares of Ameriprise Financial by 18.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,936 shares of the financial services provider’s stock valued at $3,161,000 after purchasing an additional 922 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in Ameriprise Financial by 1.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,886 shares of the financial services provider’s stock worth $1,537,000 after purchasing an additional 29 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of a number of analyst reports. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Piper Sandler lifted their price target on Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $510.44.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction of $3,241,740.00. Following the sale, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This trade represents a 29.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Trading Down 0.4 %

Shares of Ameriprise Financial stock opened at $526.80 on Thursday. The stock’s 50-day simple moving average is $542.68 and its 200 day simple moving average is $504.00. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05. The stock has a market capitalization of $51.11 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.12%. Ameriprise Financial’s dividend payout ratio is currently 17.91%.

Ameriprise Financial Company 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.