Ameriprise Financial, Inc. (NYSE:AMP) Position Boosted by Kestra Investment Management LLC

Kestra Investment Management LLC raised its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 33.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,255 shares of the financial services provider's stock after purchasing an additional 822 shares during the quarter. Kestra Investment Management LLC's holdings in Ameriprise Financial were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in shares of Ameriprise Financial in the 4th quarter valued at about $30,000. Oakworth Capital Inc. acquired a new position in Ameriprise Financial during the third quarter worth about $31,000. Sound Income Strategies LLC purchased a new position in Ameriprise Financial in the fourth quarter valued at about $36,000. Golden State Wealth Management LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter valued at approximately $38,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Ameriprise Financial during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares in the company, valued at $3,901,249.59. This trade represents a 39.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares of the company's stock, valued at $5,231,200. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,636 shares of company stock valued at $6,263,989 over the last quarter. Company insiders own 0.73% of the company's stock.

Ameriprise Financial Trading Down 2.0 %

Shares of AMP traded down $10.83 on Friday, hitting $530.18. 690,237 shares of the stock traded hands, compared to its average volume of 555,326. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The stock's 50 day moving average is $540.89 and its two-hundred day moving average is $508.68. The firm has a market capitalization of $51.44 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.19 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.55 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, February 10th. Ameriprise Financial's dividend payout ratio (DPR) is 17.91%.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. Piper Sandler raised their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $560.00 to $570.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. UBS Group lowered shares of Ameriprise Financial from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $510.44.

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.