KMG Fiduciary Partners LLC Decreases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

KMG Fiduciary Partners LLC cut its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 999 shares of the financial services provider’s stock after selling 68 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Ameriprise Financial were worth $469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMP. Heartland Bank & Trust Co increased its holdings in Ameriprise Financial by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 24 shares in the last quarter. Portside Wealth Group LLC boosted its holdings in shares of Ameriprise Financial by 3.7% during the 2nd quarter. Portside Wealth Group LLC now owns 697 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 25 shares during the last quarter. Signaturefd LLC grew its stake in shares of Ameriprise Financial by 1.1% in the first quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock worth $1,007,000 after acquiring an additional 26 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Ameriprise Financial by 0.7% during the second quarter. Coldstream Capital Management Inc. now owns 3,760 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 26 shares during the last quarter. Finally, Gratus Wealth Advisors LLC lifted its position in Ameriprise Financial by 1.5% during the first quarter. Gratus Wealth Advisors LLC now owns 1,887 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 27 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now directly owns 13,199 shares of the company’s stock, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $523.16 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $524.89. The stock has a market cap of $51.96 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. The company’s 50 day moving average is $457.59 and its two-hundred day moving average is $437.23.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm earned $7.44 EPS. The company’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were given a $1.48 dividend. The ex-dividend date was Monday, August 5th. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. Ameriprise Financial’s payout ratio is 20.15%.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Morgan Stanley raised their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $480.44.

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.