Callan Family Office LLC Makes New $3.30 Million Investment in Ameriprise Financial, Inc. $AMP

Key Points

• Callan Family Office acquired 7,187 Ameriprise Financial shares worth approximately $3.30 million in the second quarter. Institutional investors and hedge funds own 83.95% of AMP.
• Ameriprise reported quarterly EPS of $11.07, exceeding estimates of $10.81, while revenue rose 11.6% year over year to $4.90 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $555.33.
• Insiders sold nearly 30,000 shares worth $16.3 million over the past three months, while the company paid a quarterly dividend of $1.70 per share, equivalent to a 1.2% yield.

Callan Family Office LLC acquired a new position in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,187 shares of the financial services provider's stock, valued at approximately $3,297,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Essex Financial Services Inc. boosted its position in shares of Ameriprise Financial by 2.4% during the 4th quarter. Essex Financial Services Inc. now owns 904 shares of the financial services provider's stock valued at $443,000 after purchasing an additional 21 shares in the last quarter. SouthState Bank Corp grew its stake in Ameriprise Financial by 78.6% during the fourth quarter. SouthState Bank Corp now owns 50 shares of the financial services provider's stock worth $25,000 after purchasing an additional 22 shares during the period. Geneos Wealth Management Inc. grew its stake in Ameriprise Financial by 5.4% during the second quarter. Geneos Wealth Management Inc. now owns 447 shares of the financial services provider's stock worth $239,000 after purchasing an additional 23 shares during the period. Optimist Retirement Group LLC increased its holdings in Ameriprise Financial by 3.7% in the third quarter. Optimist Retirement Group LLC now owns 638 shares of the financial services provider's stock worth $313,000 after purchasing an additional 23 shares in the last quarter. Finally, Boyd Watterson Asset Management LLC OH increased its holdings in Ameriprise Financial by 5.2% in the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 484 shares of the financial services provider's stock worth $237,000 after purchasing an additional 24 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ameriprise Financial

In other news, insider William Jerryl Williams sold 8,210 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider directly owned 6,780 shares of the company's stock, valued at $3,656,793. This represents a 54.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $558.93, for a total value of $263,814.96. Following the completion of the transaction, the senior vice president owned 713 shares in the company, valued at approximately $398,517.09. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 29,988 shares of company stock worth $16,316,497. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $467.00 to $489.00 and gave the stock an "underweight" rating in a research report on Friday, July 10th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $471.00 to $518.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Jefferies Financial Group boosted their target price on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Zacks Research raised shares of Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $555.33.

Ameriprise Financial Stock Performance

Shares of AMP opened at $556.56 on Friday. Ameriprise Financial, Inc. has a one year low of $422.37 and a one year high of $572.56. The company has a market cap of $50.03 billion, a PE ratio of 13.42, a P/E/G ratio of 0.75 and a beta of 1.14. The stock has a 50-day moving average of $517.67 and a 200-day moving average of $482.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts' consensus estimates of $10.81 by $0.26. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%.The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $9.11 EPS. On average, equities research analysts predict that Ameriprise Financial, Inc. will post 46.27 EPS for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Monday, August 3rd were issued a dividend of $1.70 per share. The ex-dividend date was Monday, August 3rd. This represents a $6.80 annualized dividend and a dividend yield of 1.2%. Ameriprise Financial's payout ratio is currently 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.

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