Calamos Advisors LLC Purchases 553 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Calamos Advisors LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,684 shares of the financial services provider's stock after purchasing an additional 553 shares during the period. Calamos Advisors LLC owned about 0.05% of Ameriprise Financial worth $24,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Ameriprise Financial by 6.9% during the 4th quarter. Brighton Jones LLC now owns 777 shares of the financial services provider's stock worth $413,000 after buying an additional 50 shares during the period. Fisher Asset Management LLC bought a new position in shares of Ameriprise Financial during the fourth quarter valued at $214,000. SRS Capital Advisors Inc. lifted its holdings in shares of Ameriprise Financial by 40.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 70 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 20 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 327 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Ameriprise Financial in the fourth quarter valued at approximately $43,000. Institutional investors own 83.95% of the company's stock.

Ameriprise Financial Trading Up 0.1%

NYSE:AMP traded up $0.62 on Friday, hitting $543.06. 264,141 shares of the stock were exchanged, compared to its average volume of 497,249. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.03 and a beta of 1.23. Ameriprise Financial, Inc. has a 52 week low of $385.74 and a 52 week high of $582.05. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The company's 50-day moving average price is $509.70 and its 200 day moving average price is $511.23.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, topping analysts' consensus estimates of $9.08 by $0.42. The business 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 revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.39 earnings per share. On average, equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a dividend of $1.60 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Monday, May 5th. This represents a $6.40 annualized dividend and a dividend yield of 1.18%. Ameriprise Financial's payout ratio is presently 21.75%.

Ameriprise Financial announced that its Board of Directors has approved a share repurchase plan on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

AMP has been the subject of several research analyst reports. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler lifted their price target on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday. Raymond James Financial raised Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Ameriprise Financial from $550.00 to $565.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.