Dynamic Technology Lab Private Ltd Makes New $623,000 Investment in Ameriprise Financial, Inc. (NYSE:AMP)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,170 shares of the financial services provider's stock, valued at approximately $623,000.

A number of other hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in shares of Ameriprise Financial by 24.3% in 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. Czech National Bank boosted its stake in Ameriprise Financial by 5.2% during the fourth quarter. Czech National Bank now owns 21,035 shares of the financial services provider's stock worth $11,200,000 after buying an additional 1,033 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Ameriprise Financial during the fourth quarter valued at about $43,000. Benjamin Edwards Inc. raised its stake in shares of Ameriprise Financial by 1,261.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,171 shares of the financial services provider's stock valued at $550,000 after acquiring an additional 1,085 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Ameriprise Financial in the 4th quarter worth approximately $399,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $523.12, for a total transaction of $523,120.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $5,231,200. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 4,636 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now directly owns 7,237 shares of the company's stock, valued at $3,901,249.59. This represents a 39.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,636 shares of company stock valued at $6,263,989. Insiders own 0.73% of the company's stock.

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Ameriprise Financial Stock Up 2.8 %

Ameriprise Financial stock traded up $13.01 during midday trading on Friday, hitting $469.53. 612,195 shares of the stock were exchanged, compared to its average volume of 495,958. Ameriprise Financial, Inc. has a 1 year low of $385.74 and a 1 year high of $582.05. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $45.13 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.15 and a beta of 1.23. The company has a 50 day moving average price of $501.06 and a two-hundred day moving average price of $523.45.

Ameriprise Financial (NYSE:AMP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 EPS for the quarter, beating analysts' consensus estimates of $9.16 by $0.20. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. On average, sell-side analysts predict that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial's payout ratio is 17.91%.

Analysts Set New Price Targets

Several brokerages have commented on AMP. Raymond James raised shares of Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a research report on Monday, April 7th. UBS Group cut Ameriprise Financial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $625.00 price target on shares of Ameriprise Financial in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the stock an "underweight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ameriprise Financial currently has a consensus rating of "Hold" and a consensus price target of $517.44.

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.