Callan Family Office LLC Purchases 2,623 Shares of Ameriprise Financial, Inc. $AMP

Callan Family Office LLC boosted its position in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 82.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,798 shares of the financial services provider’s stock after acquiring an additional 2,623 shares during the period. Callan Family Office LLC’s holdings in Ameriprise Financial were worth $3,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new position in Ameriprise Financial during the first quarter valued at approximately $29,000. TD Capital Management LLC boosted its stake in Ameriprise Financial by 566.7% during the first 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 last quarter. WPG Advisers LLC bought a new position in Ameriprise Financial during the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new position in Ameriprise Financial during the first quarter valued at approximately $36,000. Finally, Hager Investment Management Services LLC lifted its stake in shares of Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 40 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMP. Keefe, Bruyette & Woods raised their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Evercore ISI lowered their price objective on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a research note on Thursday. Royal Bank Of Canada raised their price objective on Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Morgan Stanley lowered their price objective on Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Finally, BMO Capital Markets began coverage on Ameriprise Financial in a research note on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $539.50.

Insider Buying and Selling at Ameriprise Financial

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 stock was 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 $5,599,613.83. This trade represents a 47.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Heather J. Melloh sold 1,500 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $512.34, for a total value of $768,510.00. Following the transaction, the executive vice president owned 2,562 shares in the company, valued at $1,312,615.08. The trade was a 36.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Trading Down 2.4%

Shares of NYSE AMP opened at $479.75 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. The business’s 50 day moving average price is $500.39 and its 200-day moving average price is $501.73. 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 market cap of $45.23 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.10 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the business posted $8.72 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Announces Dividend

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

About Ameriprise Financial

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.