Callan Family Office LLC Sells 739 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Callan Family Office LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 18.9% during the 1st quarter, Holdings Channel reports. The fund owned 3,175 shares of the financial services provider’s stock after selling 739 shares during the period. Callan Family Office LLC’s holdings in Ameriprise Financial were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Forum Financial Management LP increased its stake in shares of Ameriprise Financial by 1.4% in the fourth quarter. Forum Financial Management LP now owns 1,484 shares of the financial services provider’s stock worth $790,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Ameriprise Financial by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 1,374 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 21 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Ameriprise Financial by 3.0% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 712 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 21 shares in the last quarter. Argent Trust Co increased its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Argent Trust Co now owns 1,698 shares of the financial services provider’s stock worth $822,000 after purchasing an additional 21 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Ameriprise Financial by 1.3% in the first quarter. Ritholtz Wealth Management now owns 1,761 shares of the financial services provider’s stock worth $852,000 after purchasing an additional 22 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMP shares. Royal Bank Of Canada increased their price objective on shares of Ameriprise Financial from $595.00 to $601.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods increased their price objective on shares of Ameriprise Financial from $520.00 to $550.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 9th. William Blair cut shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating in a research note on Friday, July 25th. Piper Sandler increased their price objective on shares of Ameriprise Financial from $423.00 to $434.00 and gave the stock an “underweight” rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley cut shares of Ameriprise Financial from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $462.00 to $530.00 in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $534.71.

Ameriprise Financial Stock Performance

AMP opened at $516.65 on Wednesday. The stock has a market capitalization of $48.70 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.08 and a beta of 1.24. The company has a fifty day moving average of $521.93 and a 200 day moving average of $508.46. Ameriprise Financial, Inc. has a fifty-two week low of $396.14 and a fifty-two week high of $582.05. 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 (NYSE:AMP) last posted its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $9.00 by $0.11. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. Ameriprise Financial’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $8.72 earnings per share. As a group, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has approved a share repurchase program on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Ameriprise Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 4th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 19.91%.

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.