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

Empirical Finance LLC reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,573 shares of the financial services provider’s stock after selling 50 shares during the quarter. Empirical Finance LLC’s holdings in Ameriprise Financial were worth $1,902,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Ameriprise Financial by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock worth $2,013,359,000 after purchasing an additional 358,699 shares during the last quarter. Geode Capital Management LLC increased its stake in Ameriprise Financial by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,609,486 shares of the financial services provider’s stock worth $1,222,943,000 after acquiring an additional 31,158 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Ameriprise Financial by 429.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 417,149 shares of the financial services provider’s stock worth $222,103,000 after acquiring an additional 338,298 shares in the last quarter. Maj Invest Holding A S grew its holdings in shares of Ameriprise Financial by 67.5% in the fourth quarter. Maj Invest Holding A S now owns 352,095 shares of the financial services provider’s stock valued at $187,466,000 after purchasing an additional 141,927 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Ameriprise Financial by 3.8% in the third quarter. Victory Capital Management Inc. now owns 248,192 shares of the financial services provider’s stock worth $116,603,000 after purchasing an additional 8,989 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

AMP opened at $538.59 on Monday. The business has a fifty day moving average of $544.14 and a 200 day moving average of $502.20. The stock has a market cap of $52.25 billion, a P/E ratio of 16.29, a PEG ratio of 1.18 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. Ameriprise Financial, Inc. has a 52-week low of $385.74 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. As a group, sell-side analysts anticipate that Ameriprise Financial, Inc. will post 38.55 EPS for the current year.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, February 10th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 17.91%.

Analysts Set New Price Targets

Several equities analysts have commented on AMP shares. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday, February 3rd. Piper Sandler boosted their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $560.00 to $570.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $510.44.

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.