Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 331 Shares of Ameriprise Financial, Inc. $AMP

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 44.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,071 shares of the financial services provider’s stock after purchasing an additional 331 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Ameriprise Financial were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 5,824,915 shares of the financial services provider’s stock valued at $2,819,900,000 after acquiring an additional 1,023,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Ameriprise Financial by 55.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,244,788 shares of the financial services provider’s stock valued at $1,086,724,000 after purchasing an additional 796,925 shares during the period. Goldman Sachs Group Inc. increased its stake in Ameriprise Financial by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,195,703 shares of the financial services provider’s stock valued at $578,852,000 after purchasing an additional 266,631 shares in the last quarter. Nuveen LLC bought a new stake in Ameriprise Financial during the 1st quarter valued at $469,334,000. Finally, Royal Bank of Canada raised its holdings in Ameriprise Financial by 1.1% during the first quarter. Royal Bank of Canada now owns 733,036 shares of the financial services provider’s stock worth $354,870,000 after buying an additional 7,840 shares during the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMP has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Raymond James Financial lifted their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. William Blair lowered Ameriprise Financial from an “outperform” rating to a “market perform” rating in a report on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Ameriprise Financial in a research note on Saturday, September 27th. Finally, Piper Sandler lifted their target price on Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $535.14.

Ameriprise Financial Trading Up 0.2%

NYSE:AMP opened at $491.67 on Monday. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a 50-day moving average price of $502.93 and a two-hundred day moving average price of $502.19. 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 cap of $46.35 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $8.72 earnings per share. On average, equities analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 4th. Ameriprise Financial’s payout ratio is presently 19.91%.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

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.