Commerce Bank Sells 1,505 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Commerce Bank lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,051 shares of the financial services provider’s stock after selling 1,505 shares during the quarter. Commerce Bank’s holdings in Ameriprise Financial were worth $11,208,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dean Investment Associates LLC grew its position in shares of Ameriprise Financial by 4.1% during the 4th quarter. Dean Investment Associates LLC now owns 6,906 shares of the financial services provider’s stock valued at $3,677,000 after acquiring an additional 271 shares during the period. First Commonwealth Financial Corp PA lifted its stake in Ameriprise Financial by 3.7% in the fourth quarter. First Commonwealth Financial Corp PA now owns 1,911 shares of the financial services provider’s stock valued at $1,017,000 after purchasing an additional 69 shares during the last quarter. Marshall Wace LLP grew its holdings in Ameriprise Financial by 1,200.6% during the fourth quarter. Marshall Wace LLP now owns 6,503 shares of the financial services provider’s stock valued at $3,462,000 after purchasing an additional 6,003 shares during the period. NewEdge Advisors LLC increased its position in Ameriprise Financial by 54.4% in the fourth quarter. NewEdge Advisors LLC now owns 13,697 shares of the financial services provider’s stock worth $7,293,000 after buying an additional 4,824 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of Ameriprise Financial by 10.9% in the fourth quarter. Bridgewater Associates LP now owns 56,005 shares of the financial services provider’s stock valued at $29,819,000 after buying an additional 5,495 shares during the period. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.3 %

Ameriprise Financial stock opened at $464.57 on Friday. The stock has a market cap of $44.65 billion, a P/E ratio of 14.05, a PEG ratio of 1.15 and a beta of 1.23. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The firm’s fifty day moving average price is $494.40 and its 200-day moving average price is $522.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.27%. Ameriprise Financial’s dividend payout ratio is presently 17.91%.

Insider Activity

In related news, CEO William F. Truscott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total transaction 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 approximately $7,576,486.67. This trade represents a 29.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Francis Sharpe, Jr. sold 1,000 shares of the company’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 completion of the sale, the director now directly 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. In the last quarter, insiders have sold 11,636 shares of company stock worth $6,263,989. 0.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday, February 3rd. Morgan Stanley increased their target price on shares of Ameriprise Financial from $507.00 to $542.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lifted their price objective on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their target price for the company from $580.00 to $570.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $517.44.

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.