2,409 Ameriprise Financial, Inc. $AMP Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC lessened its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 25.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,135 shares of the financial services provider’s stock after selling 2,409 shares during the quarter. Kestra Investment Management LLC’s holdings in Ameriprise Financial were worth $3,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Twin Lakes Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 2nd quarter worth $25,000. Balance Wealth Partners LLC acquired a new stake in Ameriprise Financial in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Ameriprise Financial in the second quarter valued at about $28,000. City State Bank grew its position in Ameriprise Financial by 264.7% in the third quarter. City State Bank now owns 62 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Ameriprise Financial in the first quarter valued at about $28,000. Institutional investors own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Ameriprise Financial from $560.00 to $595.00 in a report on Friday, July 24th. Morgan Stanley decreased their price target on shares of Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating on the stock in a report on Friday, October 9th. Keefe, Bruyette & Woods upped their price target on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Piper Sandler increased their price target on Ameriprise Financial from $518.00 to $561.00 in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group cut their price objective on Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $557.00.

Ameriprise Financial Stock Up 3.5%

Shares of NYSE AMP opened at $518.81 on Tuesday. The company has a 50 day simple moving average of $513.81 and a 200 day simple moving average of $493.23. The firm has a market cap of $45.04 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.12 and a beta of 1.13. Ameriprise Financial, Inc. has a 1 year low of $422.37 and a 1 year high of $572.56. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.68 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business earned $9.92 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial, Inc. will post 46.24 EPS for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $6.80 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial’s dividend payout ratio is presently 15.30%.

Ameriprise Financial declared that its board has initiated a share repurchase plan on Tuesday, September 29th that authorizes the company to repurchase $5.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Ameriprise Financial Company Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products.

The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis.

Ameriprise serves clients primarily in the United States through its network of financial advisors.