MBB Public Markets I LLC Buys Shares of 641 Ameriprise Financial, Inc. $AMP

Key Points

• MBB Public Markets I LLC acquired a new stake in Ameriprise Financial, purchasing 641 shares valued at approximately $310,000.
• Ameriprise Financial's quarterly earnings exceeded expectations, reporting $9.11 EPS against a consensus estimate of $9.00, with revenue increasing by 2.2% year-over-year.
• The company announced a quarterly dividend of $1.60 per share, representing a 1.3% yield, with a low payout ratio of 19.91%.

MBB Public Markets I LLC purchased a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 641 shares of the financial services provider's stock, valued at approximately $310,000.

Several other hedge funds have also made changes to their positions in AMP. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial in the fourth quarter valued at $26,000. TD Capital Management LLC grew its holdings in Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider's stock valued at $29,000 after buying an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter valued at about $29,000. Sunbeam Capital Management LLC purchased a new position in shares of Ameriprise Financial during the 4th quarter worth about $31,000. Finally, WPG Advisers LLC purchased a new position in shares of Ameriprise Financial during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Ameriprise Financial Stock Down 0.8%

Shares of NYSE AMP traded down $3.82 during midday trading on Friday, reaching $497.15. 302,141 shares of the company's stock were exchanged, compared to its average volume of 401,374. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial, Inc. has a 52-week low of $396.14 and a 52-week high of $582.05. The business's fifty day moving average price is $515.73 and its two-hundred day moving average price is $502.89. The stock has a market capitalization of $46.87 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings data 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. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm earned $8.72 EPS. Ameriprise Financial's quarterly revenue was up 2.2% on a year-over-year basis. Analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Dividend Announcement

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

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 9,929 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 11,047 shares of the company's stock, valued at $5,599,613.83. This trade represents a 47.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company's stock, valued at $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James Financial upped their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. William Blair downgraded Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday, July 25th. Morgan Stanley cut Ameriprise Financial from an "equal weight" rating to an "underweight" rating and lifted their target price for the company from $462.00 to $530.00 in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One research 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $534.71.

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.