Empowered Funds LLC Has $9.64 Million Stock Position in Ameriprise Financial, Inc. $AMP

Empowered Funds LLC grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 199.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,055 shares of the financial services provider’s stock after buying an additional 12,033 shares during the quarter. Empowered Funds LLC’s holdings in Ameriprise Financial were worth $9,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Ameriprise Financial by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,432,261 shares of the financial services provider’s stock worth $6,635,471,000 after purchasing an additional 111,386 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ameriprise Financial by 21.3% in 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 purchasing an additional 1,023,002 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ameriprise Financial by 1.7% during the second quarter. Geode Capital Management LLC now owns 2,818,428 shares of the financial services provider’s stock worth $1,500,115,000 after buying an additional 47,584 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ameriprise Financial by 55.0% during the first 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 worth $1,086,724,000 after buying an additional 796,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Ameriprise Financial by 28.7% in 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 buying an additional 266,631 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Heather J. Melloh sold 1,500 shares of Ameriprise Financial stock in a transaction that occurred on Thursday, September 4th. The stock was 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 directly owned 2,562 shares in the company, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMP has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ameriprise Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada lowered their price target on shares of Ameriprise Financial from $601.00 to $550.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. 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 research note on Wednesday, October 1st. Finally, Argus lowered their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $533.22.

Ameriprise Financial Stock Performance

NYSE AMP opened at $442.88 on Wednesday. The firm has a market capitalization of $41.15 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.28. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $478.22 and its two-hundred day moving average price is $502.31. Ameriprise Financial, Inc. has a 1 year low of $396.14 and a 1 year high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping the consensus estimate of $9.76 by $0.16. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same period in the previous year, the business earned $9.02 EPS. Ameriprise Financial’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 10th will be paid a $1.60 dividend. The ex-dividend date is Monday, November 10th. This represents a $6.40 annualized dividend and a yield of 1.4%. Ameriprise Financial’s dividend payout ratio is currently 17.55%.

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.