Ameriprise Financial, Inc. $AMP Shares Sold by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB reduced its stake in Ameriprise Financial by 0.9%, now owning approximately 69,517 shares valued at $37.1 million, making it the 23rd largest holding in its investment portfolio.
• A number of analysts have increased their price objectives for Ameriprise Financial, with Royal Bank of Canada raising it to $601 and Raymond James Financial to $582, while the stock has a consensus rating of "Hold" from analysts.
• Ameriprise Financial reported a quarterly earnings per share (EPS) of $9.11, surpassing expectations, while the company declared a quarterly dividend of $1.60, reflecting an annualized yield of 1.3%.

MassMutual Private Wealth & Trust FSB reduced its stake in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,517 shares of the financial services provider's stock after selling 641 shares during the period. Ameriprise Financial makes up about 1.0% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its 23rd biggest holding. MassMutual Private Wealth & Trust FSB owned approximately 0.07% of Ameriprise Financial worth $37,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMP. Brighton Jones LLC increased its holdings in Ameriprise Financial by 6.9% in the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 50 shares in the last quarter. Group One Trading LLC boosted its position in Ameriprise Financial by 178.0% in the 4th quarter. Group One Trading LLC now owns 278 shares of the financial services provider's stock valued at $148,000 after buying an additional 178 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ameriprise Financial by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,601 shares of the financial services provider's stock valued at $5,644,000 after buying an additional 581 shares during the last quarter. Snowden Capital Advisors LLC boosted its position in Ameriprise Financial by 11.9% in the 4th quarter. Snowden Capital Advisors LLC now owns 1,979 shares of the financial services provider's stock valued at $1,054,000 after buying an additional 210 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Ameriprise Financial by 51.9% in the 4th quarter. Toronto Dominion Bank now owns 55,778 shares of the financial services provider's stock valued at $29,696,000 after buying an additional 19,048 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial upped their price objective on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and upped their price objective for the company from $462.00 to $530.00 in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $534.71.

Ameriprise Financial Price Performance

Shares of NYSE:AMP opened at $486.99 on Tuesday. The firm's 50 day moving average is $514.75 and its two-hundred day moving average is $502.38. Ameriprise Financial, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05. The firm has a market capitalization of $45.91 billion, a P/E ratio of 15.15, a PEG ratio of 1.06 and a beta of 1.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.95.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the business earned $8.72 earnings per share. The business's revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 19.91%.

Insider Buying and Selling

In related news, EVP Heather J. Melloh sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total value of $768,510.00. Following the completion of the transaction, the executive vice president owned 2,562 shares of the company's stock, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Ameriprise Financial Company 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.

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