Empirical Finance LLC Cuts Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Empirical Finance LLC decreased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,554 shares of the financial services provider’s stock after selling 342 shares during the period. Empirical Finance LLC’s holdings in Ameriprise Financial were worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMP. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ameriprise Financial by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,747 shares of the financial services provider’s stock valued at $4,164,000 after purchasing an additional 110 shares in the last quarter. iA Global Asset Management Inc. raised its position in shares of Ameriprise Financial by 9.7% during the 2nd quarter. iA Global Asset Management Inc. now owns 5,927 shares of the financial services provider’s stock worth $2,532,000 after purchasing an additional 526 shares during the last quarter. Signaturefd LLC raised its position in shares of Ameriprise Financial by 10.0% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the financial services provider’s stock worth $1,079,000 after purchasing an additional 230 shares during the last quarter. Arjuna Capital acquired a new stake in Ameriprise Financial in the 2nd quarter worth about $4,296,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Ameriprise Financial by 41.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 101,043 shares of the financial services provider’s stock worth $43,165,000 after buying an additional 29,610 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMP shares. Royal Bank of Canada raised their target price on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. UBS Group dropped their target price on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Piper Sandler lowered their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Trading Up 1.4 %

Shares of AMP opened at $449.26 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $427.17 and a 200 day moving average price of $423.78. Ameriprise Financial, Inc. has a 12-month low of $306.63 and a 12-month high of $450.35. The firm has a market capitalization of $44.62 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.73 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $7.44 EPS. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Ameriprise Financial 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.