Empirical Finance LLC Grows Stake in Ameriprise Financial, Inc. (NYSE:AMP)

Empirical Finance LLC grew its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 3.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,896 shares of the financial services provider’s stock after acquiring an additional 113 shares during the quarter. Empirical Finance LLC’s holdings in Ameriprise Financial were worth $1,708,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its stake in Ameriprise Financial by 1.1% in the 1st quarter. Signaturefd LLC now owns 2,296 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 26 shares in the last quarter. Aua Capital Management LLC increased its stake in Ameriprise Financial by 4.7% in the 1st quarter. Aua Capital Management LLC now owns 604 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 27 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in Ameriprise Financial by 4.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 619 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 28 shares in the last quarter. PDS Planning Inc increased its position in Ameriprise Financial by 3.7% during the first quarter. PDS Planning Inc now owns 775 shares of the financial services provider’s stock worth $340,000 after buying an additional 28 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Ameriprise Financial by 1.1% during the fourth quarter. Meeder Advisory Services Inc. now owns 2,969 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMP shares. Royal Bank of Canada raised their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI raised their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. UBS Group dropped their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods raised their price target on Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, Piper Sandler dropped their price target 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy 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 $462.89.

Insider Activity at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $446.18 on Friday. The company has a market cap of $44.31 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.73 and a beta of 1.37. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $449.51. The business has a fifty day simple moving average of $432.83 and a 200-day simple moving average of $414.41.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.25 earnings per share. Equities research analysts forecast that Ameriprise Financial, Inc. will post 34.91 EPS for the current year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $1.48 dividend. The ex-dividend date was Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.33%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

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.