Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,035 shares of the financial services provider’s stock after buying an additional 204 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Ameriprise Financial were worth $551,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at $31,000. Sound Income Strategies LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $36,000. Country Trust Bank lifted its position in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock valued at $32,000 after buying an additional 47 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at $46,000. Finally, Peterson Financial Group Inc. purchased a new stake in Ameriprise Financial during the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $571.93 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The stock has a market cap of $55.48 billion, a P/E ratio of 21.96, a PEG ratio of 0.85 and a beta of 1.36. The business’s 50-day moving average price is $548.14 and its two-hundred day moving average price is $495.06. Ameriprise Financial, Inc. has a twelve month low of $378.05 and a twelve month high of $577.00.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the 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 directly owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gumer Alvero sold 2,325 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AMP shares. Morgan Stanley increased their price objective 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 dropped their price objective for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $503.22.

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.