Empirical Asset Management LLC Has $4.40 Million Position in Ameriprise Financial, Inc. (NYSE:AMP)

Empirical Asset Management LLC cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,271 shares of the financial services provider’s stock after selling 439 shares during the quarter. Empirical Asset Management LLC’s holdings in Ameriprise Financial were worth $4,404,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMP. Geller Advisors LLC increased its stake in Ameriprise Financial by 2.2% in the third quarter. Geller Advisors LLC now owns 878 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 19 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its position in shares of Ameriprise Financial by 2.0% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,022 shares of the financial services provider’s stock valued at $480,000 after buying an additional 20 shares in the last quarter. Ledyard National Bank raised its stake in Ameriprise Financial by 3.2% during the 3rd quarter. Ledyard National Bank now owns 733 shares of the financial services provider’s stock worth $344,000 after buying an additional 23 shares during the period. Heartland Bank & Trust Co raised its stake in Ameriprise Financial by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 2,755 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 24 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its holdings in Ameriprise Financial by 2.5% during the third quarter. Great Valley Advisor Group Inc. now owns 999 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 24 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now owns 4,669 shares in the company, valued at $2,409,437.45. This trade represents a 33.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 in the last quarter. Corporate insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $546.92 on Friday. Ameriprise Financial, Inc. has a 12 month low of $368.41 and a 12 month high of $577.00. The company’s fifty day simple moving average is $548.44 and its 200-day simple moving average is $487.70. The firm has a market cap of $53.06 billion, a PE ratio of 21.00, a P/E/G ratio of 0.78 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. Ameriprise Financial’s dividend payout ratio is 22.73%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada lifted their price target 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. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $494.89.

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.