Calamos Advisors LLC Increases Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Calamos Advisors LLC raised its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,684 shares of the financial services provider’s stock after purchasing an additional 553 shares during the period. Calamos Advisors LLC’s holdings in Ameriprise Financial were worth $24,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp lifted its stake in Ameriprise Financial by 24.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 327 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Ameriprise Financial in the fourth quarter worth approximately $43,000. GAMMA Investing LLC grew its position in Ameriprise Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 4,367 shares of the financial services provider’s stock worth $2,114,000 after purchasing an additional 83 shares during the period. Spire Wealth Management raised its stake in Ameriprise Financial by 91.6% during the 1st quarter. Spire Wealth Management now owns 1,429 shares of the financial services provider’s stock valued at $692,000 after buying an additional 683 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Ameriprise Financial by 488.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the financial services provider’s stock worth $470,000 after buying an additional 806 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $543.06 on Friday. The company’s 50 day moving average is $508.17 and its two-hundred day moving average is $511.31. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10. The stock has a market cap of $51.71 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.03 and a beta of 1.23. Ameriprise Financial, Inc. has a 12 month low of $385.74 and a 12 month high of $582.05.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping the consensus estimate of $9.08 by $0.42. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. Ameriprise Financial’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.39 EPS. As a group, research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were issued a dividend of $1.60 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.48. This represents a $6.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, May 5th. Ameriprise Financial’s dividend payout ratio (DPR) is 21.75%.

Ameriprise Financial declared that its board has authorized a stock buyback plan on Thursday, April 24th that authorizes the company to buyback $4.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMP shares. Wall Street Zen upgraded Ameriprise Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $510.00 to $520.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Piper Sandler boosted their target price on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research report on Thursday. Royal Bank Of Canada increased their price target on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Finally, Raymond James Financial raised shares of Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 price objective for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $517.86.

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.