Ameriprise Financial, Inc. $AMP Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank lowered its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,387 shares of the financial services provider’s stock after selling 26 shares during the period. Ameriprise Financial makes up approximately 1.8% of Kennebec Savings Bank’s portfolio, making the stock its 11th biggest holding. Kennebec Savings Bank’s holdings in Ameriprise Financial were worth $1,808,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial in the first quarter valued at approximately $29,000. TD Capital Management LLC increased its holdings in shares of Ameriprise Financial by 566.7% in the first quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. WPG Advisers LLC acquired a new position in Ameriprise Financial during the first quarter worth $33,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter worth $36,000. Finally, TCTC Holdings LLC grew its holdings in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Stock Down 0.9%

Ameriprise Financial stock opened at $487.04 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. The stock’s fifty day moving average is $504.05 and its two-hundred day moving average is $502.09.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.72 earnings per share. Analysts predict that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s dividend payout ratio is currently 19.91%.

Insider Buying and Selling at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer directly owned 11,047 shares in the company, valued at $5,599,613.83. This represents a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the sale, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a report on Wednesday. Piper Sandler upped their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a report on Wednesday, July 9th. Royal Bank Of Canada upped their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Raymond James Financial upped their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the stock a “strong-buy” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $536.83.

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.