Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its holdings in Ameriprise Financial by 18.9%, now owning 3,175 shares valued at approximately $1.54 million.
• Ameriprise reported $9.11 earnings per share for the last quarter, surpassing analyst estimates, with revenue reaching $4.49 billion.
• The company announced a stock buyback program allowing for the repurchase of up to $4.50 billion in shares, indicating management believes the stock is undervalued.

Callan Family Office LLC cut its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 18.9% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMP. University of Texas Texas AM Investment Management Co. acquired a new position in Ameriprise Financial during the fourth quarter worth $26,000. Sunbeam Capital Management LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $31,000. Opal Wealth Advisors LLC acquired a new position in Ameriprise Financial during the first quarter worth $36,000. Quarry LP lifted its stake in Ameriprise Financial by 148.6% during the fourth quarter. Quarry LP now owns 87 shares of the financial services provider's stock worth $46,000 after purchasing an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC lifted its stake in Ameriprise Financial by 100.0% during the first quarter. TCTC Holdings LLC now owns 98 shares of the financial services provider's stock worth $47,000 after purchasing an additional 49 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMP shares. Piper Sandler increased their price objective on Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a research note on Thursday, July 3rd. Raymond James Financial raised their price target on Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Ameriprise Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods raised their price target 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. Finally, Royal Bank Of Canada raised their price target on Ameriprise Financial from $595.00 to $601.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $534.71.

Ameriprise Financial Stock Performance

Shares of AMP stock traded down $10.94 during mid-day trading on Friday, hitting $502.75. 424,794 shares of the stock were exchanged, compared to its average volume of 435,926. 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, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The stock's fifty day simple moving average is $521.74 and its two-hundred day simple moving average is $507.19. The stock has a market capitalization of $47.40 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.07 and a beta of 1.24.

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

Ameriprise Financial Announces Dividend

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 issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 4th. Ameriprise Financial's payout ratio is currently 19.91%.

Ameriprise Financial announced that its Board of Directors has approved a stock buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

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.