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

Key Points

• Callan Family Office LLC increased its stake in Ameriprise Financial by 82.6%, acquiring an additional 2,623 shares, bringing their total holdings to 5,798 shares worth approximately $3.1 million.
• Multiple hedge funds are actively trading Ameriprise Financial shares, with notable transactions including TD Capital Management increasing its position by 566.7% and Hager Investment Management Services expanding its stake by 114.3%.
• Ameriprise Financial's stock performance remains strong, reporting a recent quarterly earnings-per-share of $9.11 and a dividend of $1.60 per share, resulting in an annualized yield of 1.3%.

Callan Family Office LLC increased its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 82.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,798 shares of the financial services provider's stock after purchasing an additional 2,623 shares during the quarter. Callan Family Office LLC's holdings in Ameriprise Financial were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $29,000. TD Capital Management LLC increased its position 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 acquiring an additional 51 shares during the last quarter. WPG Advisers LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $33,000. Opal Wealth Advisors LLC purchased a new stake in Ameriprise Financial during the first quarter valued at $36,000. Finally, Hager Investment Management Services LLC increased its position in Ameriprise Financial by 114.3% during the second quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

Insider Activity

In related news, EVP Heather J. Melloh sold 1,500 shares of the 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 owned 2,562 shares in the company, valued at approximately $1,312,615.08. This trade represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $506.89, for a total value of $5,032,910.81. Following the sale, the chief executive officer owned 11,047 shares of the company's stock, valued at $5,599,613.83. This represents a 47.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $520.00 to $550.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Ameriprise Financial in a research report on Wednesday. Raymond James Financial upped their price objective on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research report on Friday, July 25th. William Blair cut Ameriprise Financial from an "outperform" rating to a "market perform" rating in a research report on Friday, July 25th. Finally, Evercore ISI reduced their price target on Ameriprise Financial from $587.00 to $570.00 and set an "in-line" rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $539.50.

Ameriprise Financial Stock Performance

Shares of AMP opened at $479.75 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The business has a 50-day simple moving average of $500.39 and a two-hundred day simple moving average of $501.73. The stock 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, Inc. has a 52 week low of $396.14 and a 52 week high of $582.05.

Ameriprise Financial (NYSE:AMP - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter last year, the business posted $8.72 earnings per share. The firm's revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Ameriprise Financial, Inc. will post 38.64 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 4th were given a dividend of $1.60 per share. The ex-dividend date was Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Ameriprise Financial's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.