Dean Capital Management Acquires 68 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Dean Capital Management grew its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,443 shares of the financial services provider’s stock after acquiring an additional 68 shares during the period. Dean Capital Management’s holdings in Ameriprise Financial were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AMP. Jones Financial Companies Lllp increased its position in Ameriprise Financial by 24.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,674 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 327 shares during the period. Czech National Bank grew its position in shares of Ameriprise Financial by 5.2% during the 4th 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. bought a new stake in shares of Ameriprise Financial during the fourth quarter worth approximately $43,000. N.E.W. Advisory Services LLC acquired a new position in Ameriprise Financial in the fourth quarter valued at approximately $399,000. Finally, Highland Capital Management LLC bought a new position in Ameriprise Financial in the fourth quarter valued at approximately $1,286,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on AMP shares. Piper Sandler upped their target price on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Raymond James raised Ameriprise Financial from a “market perform” rating to a “strong-buy” rating and set a $518.00 target price on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods reduced their target price on Ameriprise Financial from $520.00 to $510.00 and set a “market perform” rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada upped their price target on Ameriprise Financial from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $515.88.

Ameriprise Financial Trading Down 1.1 %

NYSE:AMP opened at $475.58 on Wednesday. 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 business’s 50-day simple moving average is $478.81 and its 200-day simple moving average is $520.55. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock has a market capitalization of $45.57 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $9.08 by $0.42. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.45 billion. Ameriprise Financial had a net margin of 19.70% and a return on equity of 69.35%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.39 earnings per share. Sell-side analysts expect that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Investors of record on Monday, May 5th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.35%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Monday, May 5th. Ameriprise Financial’s payout ratio is presently 21.75%.

Ameriprise Financial announced that its Board of Directors has authorized a share buyback program on Thursday, April 24th that permits the company to buyback $4.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Ameriprise Financial news, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $540.29, for a total value of $3,241,740.00. Following the transaction, the chief executive officer now directly owns 14,023 shares of the company’s stock, valued at $7,576,486.67. This represents a 29.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $523.12, for a total value of $523,120.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $5,231,200. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,636 shares of company stock valued at $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

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.