Calamos Advisors LLC Sells 1,837 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Calamos Advisors LLC reduced its position in Ameriprise Financial, Inc. (NYSE:AMP) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,336 shares of the financial services provider’s stock after selling 1,837 shares during the quarter. Calamos Advisors LLC owned approximately 0.05% of Ameriprise Financial worth $21,503,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Empirical Finance LLC raised its holdings in shares of Ameriprise Financial by 3.0% in the 1st quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Ameriprise Financial by 0.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,600 shares of the financial services provider’s stock valued at $5,166,000 after acquiring an additional 73 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ameriprise Financial by 3.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,995 shares of the financial services provider’s stock valued at $42,238,000 after purchasing an additional 4,203 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Ameriprise Financial in the 4th quarter valued at $775,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 8,693 shares during the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMP shares. Argus boosted their target price on Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Morgan Stanley cut their price target on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada boosted their target price on shares of Ameriprise Financial from $487.00 to $500.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $464.33.

Ameriprise Financial Price Performance

AMP opened at $439.68 on Monday. The stock has a market cap of $43.67 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.73 and a beta of 1.37. Ameriprise Financial, Inc. has a 12 month low of $306.63 and a 12 month high of $449.94. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $426.90 and a 200 day simple moving average of $422.91.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.44 EPS. On average, research analysts expect that Ameriprise Financial, Inc. will post 34.77 EPS for the current year.

Ameriprise Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s payout ratio is 20.15%.

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.