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

Commerce Bank decreased its position in Ameriprise Financial, Inc. (NYSE:AMP) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,556 shares of the financial services provider’s stock after selling 603 shares during the period. Commerce Bank’s holdings in Ameriprise Financial were worth $10,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. grew its position in shares of Ameriprise Financial by 268.8% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock worth $25,000 after buying an additional 43 shares during the period. Accordant Advisory Group Inc bought a new position in Ameriprise Financial in the second quarter valued at approximately $26,000. Mascoma Wealth Management LLC grew its holdings in Ameriprise Financial by 153.8% during the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 40 shares during the period. Bank & Trust Co bought a new stake in shares of Ameriprise Financial during the 2nd quarter valued at $29,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Ameriprise Financial in the 2nd quarter valued at $29,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at approximately $3,194,190.48. This trade represents a 64.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 8,655 shares of Ameriprise Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,415 shares of company stock worth $15,829,445. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Price Performance

Shares of AMP opened at $561.40 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $504.20 and its 200 day simple moving average is $456.02. Ameriprise Financial, Inc. has a 1-year low of $345.43 and a 1-year high of $569.47. The company has a market cap of $54.46 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 0.98 and a beta of 1.34.

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 paid a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 annualized dividend and a yield of 1.05%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.73%.

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.