Kennebec Savings Bank Reduces Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Kennebec Savings Bank trimmed its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.5% in the fourth quarter, Holdings Channel reports. The firm owned 4,005 shares of the financial services provider’s stock after selling 61 shares during the quarter. Ameriprise Financial comprises approximately 2.1% of Kennebec Savings Bank’s investment portfolio, making the stock its 7th biggest position. Kennebec Savings Bank’s holdings in Ameriprise Financial were worth $2,073,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. acquired a new stake in Ameriprise Financial in the 3rd quarter valued at about $31,000. Country Trust Bank raised its stake in Ameriprise Financial by 213.6% in the third quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Ameriprise Financial in the fourth quarter valued at approximately $36,000. Peterson Financial Group Inc. bought a new position in shares of Ameriprise Financial during the 3rd quarter worth approximately $45,000. Finally, Albion Financial Group UT acquired a new position in shares of Ameriprise Financial during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AMP. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. UBS Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday. Finally, Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $503.22.

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $547.95 on Friday. The stock’s fifty day moving average price is $548.61 and its two-hundred day moving average price is $496.50. The firm has a market cap of $53.16 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial, Inc. has a one year low of $378.05 and a one year high of $582.05.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.46% and a net margin of 19.70%. As a group, research analysts expect that Ameriprise Financial, Inc. will post 39.04 EPS for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

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.