Ameriprise Financial, Inc. $AMP Holdings Raised by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P has increased its stake in Ameriprise Financial by 39.0%, acquiring an additional 5,213 shares, bringing their total holdings to 18,587 shares valued at approximately $8.998 million.
• Ameriprise Financial reported a $9.11 EPS for the last quarter, exceeding analysts' expectations of $9.00, with a net margin of 18.30% and quarterly revenue of $4.49 billion.
• The company declared a quarterly dividend of $1.60, resulting in an annualized dividend of $6.40 and a dividend yield of 1.3%, reflecting a payout ratio of 19.91%.

Martingale Asset Management L P grew its position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,587 shares of the financial services provider's stock after acquiring an additional 5,213 shares during the quarter. Martingale Asset Management L P's holdings in Ameriprise Financial were worth $8,998,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMP. Brighton Jones LLC increased its position 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 acquiring an additional 50 shares during the period. Marshall Wace LLP grew its stake in shares of Ameriprise Financial by 1,200.6% in the fourth quarter. Marshall Wace LLP now owns 6,503 shares of the financial services provider's stock worth $3,462,000 after purchasing an additional 6,003 shares in the last quarter. MGO One Seven LLC grew its stake in shares of Ameriprise Financial by 4.1% in the fourth quarter. MGO One Seven LLC now owns 3,723 shares of the financial services provider's stock worth $1,982,000 after purchasing an additional 145 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Ameriprise Financial by 14.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 88,818 shares of the financial services provider's stock valued at $47,289,000 after purchasing an additional 11,250 shares during the period. Finally, Burling Wealth Partners LLC bought a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $1,002,000. Institutional investors own 83.95% of the company's stock.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the transaction, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMP shares. Keefe, Bruyette & Woods increased their target price on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Raymond James Financial raised 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 note on Friday, July 25th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Price Performance

Shares of NYSE AMP traded up $10.6240 during mid-day trading on Friday, reaching $515.8540. The company had a trading volume of 441,906 shares, compared to its average volume of 410,253. The company has a 50-day moving average price of $521.12 and a two-hundred day moving average price of $505.79. The stock has a market cap of $48.63 billion, a PE ratio of 16.05, a P/E/G ratio of 1.10 and a beta of 1.24. 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, Inc. has a 1-year low of $396.14 and a 1-year high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $9.00 by $0.11. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.Ameriprise Financial's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $8.72 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 4th were issued a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is currently 19.91%.

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.