Empowered Funds LLC Makes New Investment in Ameriprise Financial, Inc. $AMP

Empowered Funds LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 37,154 shares of the financial services provider’s stock, valued at approximately $17,045,000.

A number of other institutional investors have also added to or reduced their stakes in the company. SouthState Bank Corp increased its position in Ameriprise Financial by 78.6% during the 4th quarter. SouthState Bank Corp now owns 50 shares of the financial services provider’s stock valued at $25,000 after buying an additional 22 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Ameriprise Financial during the second quarter valued at $28,000. Fiduciary Financial Advisors bought a new position in shares of Ameriprise Financial during the second quarter valued at $30,000. Finally, Prosperity Bancshares Inc purchased a new position in shares of Ameriprise Financial in the 4th quarter worth about $33,000. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other news, EVP Deirdre Davey Mcgraw sold 2,400 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $558.28, for a total value of $1,339,872.00. Following the sale, the executive vice president directly owned 3,373 shares in the company, valued at approximately $1,883,078.44. This represents a 41.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Dawn M. Brockman sold 472 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares of the company’s stock, valued at $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. Company insiders own 0.60% of the company’s stock.

Ameriprise Financial Trading Up 0.7%

Shares of Ameriprise Financial stock opened at $559.79 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average of $526.87 and a 200 day moving average of $482.80. The company has a market capitalization of $50.33 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the firm posted $9.11 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMP. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Piper Sandler increased their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Morgan Stanley upped their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the company an “underweight” rating in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $555.33.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.