Empower Advisory Group LLC Makes New $223,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Empower Advisory Group LLC purchased a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 474 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial during the 2nd quarter worth $26,000. Mascoma Wealth Management LLC grew its position in shares of Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Bank & Trust Co purchased a new stake in shares of Ameriprise Financial in the 2nd quarter worth $29,000. Finally, Hantz Financial Services Inc. bought a new position in Ameriprise Financial in the 2nd quarter worth $29,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ameriprise Financial

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP William Davies sold 8,700 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 39.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,415 shares of company stock valued at $15,829,445 over the last 90 days. 0.73% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. UBS Group boosted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada lifted their target price on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $487.67.

Ameriprise Financial Stock Performance

Shares of NYSE AMP opened at $562.44 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $54.57 billion, a P/E ratio of 21.74, a P/E/G ratio of 0.97 and a beta of 1.34. Ameriprise Financial, Inc. has a 52-week low of $342.96 and a 52-week high of $569.47. The firm’s fifty day moving average is $493.91 and its two-hundred day moving average is $451.64.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s payout ratio is 22.73%.

About Ameriprise Financial

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.