Commerce Bank Purchases Shares of 24,697 Ameriprise Financial, Inc. $AMP

Commerce Bank acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,697 shares of the financial services provider’s stock, valued at approximately $11,330,000.

Several other hedge funds also recently modified their holdings of AMP. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ameriprise Financial by 5.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,258 shares of the financial services provider’s stock worth $98,388,000 after purchasing an additional 10,782 shares in the last quarter. National Pension Service increased its stake in Ameriprise Financial by 8.2% during the 4th quarter. National Pension Service now owns 165,543 shares of the financial services provider’s stock valued at $81,172,000 after purchasing an additional 12,563 shares in the last quarter. LSV Asset Management increased its stake in Ameriprise Financial by 1.3% during the 4th quarter. LSV Asset Management now owns 272,018 shares of the financial services provider’s stock valued at $133,381,000 after purchasing an additional 3,548 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Ameriprise Financial during the fourth quarter worth $72,050,000. Finally, D.A. Davidson & CO. raised its holdings in Ameriprise Financial by 116.5% during the fourth quarter. D.A. Davidson & CO. now owns 13,380 shares of the financial services provider’s stock worth $6,561,000 after buying an additional 7,200 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Activity

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 472 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $558.93, for a total value of $263,814.96. Following the sale, the senior vice president directly owned 713 shares in the company, valued at $398,517.09. This represents a 39.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Jerryl Williams sold 8,210 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $539.35, for a total transaction of $4,428,063.50. Following the transaction, the insider owned 6,780 shares of the company’s stock, valued at $3,656,793. This trade represents a 54.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,988 shares of company stock valued at $16,316,497. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMP. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a report on Friday, July 10th. Zacks Research raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Piper Sandler lifted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Morgan Stanley boosted their price objective on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Finally, Weiss Ratings raised Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of “Moderate Buy” and an average price target of $555.33.

Ameriprise Financial Trading Up 0.2%

Shares of AMP opened at $556.56 on Monday. The business has a 50-day moving average of $517.67 and a 200 day moving average of $481.65. Ameriprise Financial, Inc. has a fifty-two week low of $422.37 and a fifty-two week high of $572.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $50.03 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.14.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the firm posted $9.11 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Ameriprise Financial, Inc. will post 46.27 EPS for the current year.

Ameriprise Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Monday, August 3rd were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 3rd. Ameriprise Financial’s dividend payout ratio is 16.40%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.