Empower Advisory Group LLC Takes Position in Ameriprise Financial, Inc. (NYSE:AMP)

Empower Advisory Group LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 474 shares of the financial services provider’s stock, valued at approximately $223,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock worth $1,685,436,000 after acquiring an additional 603,267 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock worth $482,588,000 after purchasing an additional 110,319 shares in the last quarter. Legal & General Group Plc increased its holdings in Ameriprise Financial by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock worth $351,685,000 after purchasing an additional 11,060 shares during the period. AGF Management Ltd. raised its position in Ameriprise Financial by 35.4% during the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Ameriprise Financial by 3.9% in the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after buying an additional 17,312 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gumer Alvero sold 2,325 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,415 shares of company stock valued at $15,829,445. 0.73% of the stock is currently owned by corporate insiders.

Ameriprise Financial Stock Performance

Shares of AMP opened at $562.44 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market cap of $54.57 billion, a PE ratio of 21.74, a P/E/G ratio of 0.97 and a beta of 1.34. Ameriprise Financial, Inc. has a 12 month low of $342.96 and a 12 month high of $569.47. The stock has a fifty day moving average price of $493.91 and a 200-day moving average price of $451.64.

Ameriprise Financial Announces Dividend

The firm also recently declared 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 dividend payout ratio (DPR) is presently 22.73%.

Wall Street Analyst Weigh In

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

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.