4,425 Ameriprise Financial, Inc. $AMP Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 56.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,233 shares of the financial services provider’s stock after purchasing an additional 4,425 shares during the quarter. Kestra Advisory Services LLC’s holdings in Ameriprise Financial were worth $6,023,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State Street Corp lifted its position in shares of Ameriprise Financial by 1,279.7% in the 2nd quarter. State Street Corp now owns 63,365,362 shares of the financial services provider’s stock worth $29,069,493,000 after purchasing an additional 58,772,775 shares during the period. Envestnet Asset Management Inc. increased its holdings in Ameriprise Financial by 960.8% during the second quarter. Envestnet Asset Management Inc. now owns 3,352,117 shares of the financial services provider’s stock valued at $1,537,817,000 after buying an additional 3,036,128 shares during the period. Assenagon Asset Management S.A. increased its holdings in Ameriprise Financial by 980.8% during the third quarter. Assenagon Asset Management S.A. now owns 2,069,740 shares of the financial services provider’s stock valued at $1,019,036,000 after buying an additional 1,878,244 shares during the period. Artemis Investment Management LLP bought a new position in Ameriprise Financial in the third quarter worth approximately $925,211,000. Finally, Douglas Lane & Associates LLC bought a new position in Ameriprise Financial in the third quarter worth approximately $575,767,000. Institutional investors own 83.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMP. Argus upped their target price on Ameriprise Financial from $534.00 to $590.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Jefferies Financial Group cut their price target on Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. Bank of America lowered Ameriprise Financial from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $570.00 to $445.00 in a research report on Monday, October 19th. The Goldman Sachs Group reduced their price target on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Finally, BMO Capital Markets decreased their price objective on Ameriprise Financial from $560.00 to $520.00 and set a “market perform” rating for the company in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $557.00.

Ameriprise Financial Stock Up 0.1%

NYSE:AMP opened at $520.55 on Thursday. The company has a market cap of $45.19 billion, a PE ratio of 11.71, a P/E/G ratio of 1.10 and a beta of 1.13. Ameriprise Financial, Inc. has a twelve month low of $422.37 and a twelve month high of $572.56. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. The company’s 50 day moving average is $512.71 and its two-hundred day moving average is $493.42.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $9.92 EPS. Analysts anticipate that Ameriprise Financial, Inc. will post 46.43 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Ameriprise Financial declared that its Board of Directors has initiated a share buyback program on Tuesday, September 29th that permits the company to repurchase $5.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Ameriprise Financial 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.