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

KMG Fiduciary Partners LLC trimmed its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 999 shares of the financial services provider’s stock after selling 68 shares during the period. KMG Fiduciary Partners LLC’s holdings in Ameriprise Financial were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Net Worth Advisory Group purchased a new stake in Ameriprise Financial in the 3rd quarter worth about $1,370,000. Stratos Investment Management LLC bought a new position in Ameriprise Financial during the third quarter worth about $530,000. Trust Point Inc. boosted its position in Ameriprise Financial by 5.4% during the third quarter. Trust Point Inc. now owns 589 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 30 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Ameriprise Financial by 12.2% in the third quarter. Aaron Wealth Advisors LLC now owns 819 shares of the financial services provider’s stock worth $385,000 after purchasing an additional 89 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Ameriprise Financial by 19.6% in the third quarter. V Square Quantitative Management LLC now owns 2,171 shares of the financial services provider’s stock valued at $1,020,000 after purchasing an additional 356 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Ameriprise Financial Stock Performance

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

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business 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 posted $7.44 earnings per share. Ameriprise Financial’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts predict that Ameriprise Financial, Inc. will post 34.92 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors 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 yield of 1.13%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AMP has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Jefferies Financial Group boosted their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group raised their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler decreased their price target on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company 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.