Commerce Bank Sells 603 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Commerce Bank lessened its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,556 shares of the financial services provider’s stock after selling 603 shares during the quarter. Commerce Bank’s holdings in Ameriprise Financial were worth $10,597,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in Ameriprise Financial during the third quarter valued at about $4,144,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Ameriprise Financial during the third quarter worth approximately $3,278,000. Fifth Third Wealth Advisors LLC boosted its position in shares of Ameriprise Financial by 3.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,505 shares of the financial services provider’s stock valued at $1,647,000 after acquiring an additional 127 shares during the period. Verity & Verity LLC grew its stake in shares of Ameriprise Financial by 1.8% in the third quarter. Verity & Verity LLC now owns 23,496 shares of the financial services provider’s stock worth $11,039,000 after acquiring an additional 413 shares during the last quarter. Finally, Quest Partners LLC increased its position in Ameriprise Financial by 40.1% during the third quarter. Quest Partners LLC now owns 5,997 shares of the financial services provider’s stock worth $2,817,000 after acquiring an additional 1,718 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 39.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 2,325 shares of Ameriprise Financial stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares of the company’s stock, valued at approximately $2,409,437.45. The trade was a 33.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,415 shares of company stock valued at $15,829,445 in the last ninety days. Insiders own 0.96% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of NYSE:AMP opened at $561.40 on Thursday. The stock has a market capitalization of $54.46 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The business’s fifty day moving average price is $504.20 and its two-hundred day moving average price is $456.02. Ameriprise Financial, Inc. has a fifty-two week low of $345.43 and a fifty-two week high of $569.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, November 4th. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley upped their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. UBS Group raised their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $487.67.

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.