Empowered Funds LLC Invests $17.05 Million in Ameriprise Financial, Inc. $AMP

Empowered Funds LLC bought a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 37,154 shares of the financial services provider’s stock, valued at approximately $17,045,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ameriprise Financial by 5.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock valued at $98,388,000 after purchasing an additional 10,782 shares during the period. National Pension Service increased its stake in shares of Ameriprise Financial by 8.2% in the fourth quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after purchasing an additional 12,563 shares during the period. LSV Asset Management raised its holdings in shares of Ameriprise Financial by 1.3% during the fourth quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after buying an additional 3,548 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Ameriprise Financial during the second quarter valued at approximately $485,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $72,050,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In related news, insider William Jerryl Williams sold 8,210 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total value of $4,428,063.50. Following the transaction, the insider owned 6,780 shares in the company, valued at approximately $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Walter Stanley Berman sold 11,012 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $548.95, for a total transaction of $6,045,037.40. Following the transaction, the chief financial officer owned 5,609 shares in the company, valued at approximately $3,079,060.55. This trade represents a 66.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is currently owned by company insiders.

Ameriprise Financial Trading Up 0.7%

NYSE:AMP opened at $559.79 on Friday. The stock has a fifty day simple moving average of $526.87 and a 200 day simple moving average of $482.80. The firm has a market capitalization of $50.33 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.14. Ameriprise Financial, Inc. has a 1-year low of $422.37 and a 1-year high of $572.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.99.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 EPS for the quarter, beating the consensus estimate of $10.81 by $0.26. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.11 EPS. Sell-side analysts forecast that Ameriprise Financial, Inc. will post 46.27 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMP. Zacks Research raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods upped 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. Jefferies Financial Group increased their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Moderate Buy” and a consensus price target of $555.33.

Ameriprise Financial Profile

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.