CNB Bank Trims Stock Holdings in Ameriprise Financial, Inc. (NYSE:AMP)

CNB Bank reduced its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,563 shares of the financial services provider’s stock after selling 207 shares during the period. Ameriprise Financial comprises 1.1% of CNB Bank’s portfolio, making the stock its 20th biggest position. CNB Bank’s holdings in Ameriprise Financial were worth $2,429,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMP. JPMorgan Chase & Co. raised its stake in shares of Ameriprise Financial by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 4,285,476 shares of the financial services provider’s stock valued at $2,013,359,000 after acquiring an additional 358,699 shares in the last quarter. Maj Invest Holding A S purchased a new position in Ameriprise Financial during the 3rd quarter worth $98,742,000. Assenagon Asset Management S.A. increased its holdings in Ameriprise Financial by 816.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 219,180 shares of the financial services provider’s stock worth $116,698,000 after purchasing an additional 195,271 shares during the period. The Manufacturers Life Insurance Company raised its position in Ameriprise Financial by 144.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 243,385 shares of the financial services provider’s stock valued at $114,345,000 after purchasing an additional 143,648 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Ameriprise Financial in the 3rd quarter worth $456,890,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $549.69 on Friday. Ameriprise Financial, Inc. has a 12-month low of $369.29 and a 12-month high of $577.00. The business’s fifty day simple moving average is $548.44 and its 200-day simple moving average is $487.70. 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 has a market cap of $53.33 billion, a PE ratio of 21.07, a PEG ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Announces Dividend

The firm 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 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, November 4th. Ameriprise Financial’s dividend payout ratio is currently 22.73%.

Analysts Set New Price Targets

Several brokerages have recently commented on AMP. Keefe, Bruyette & Woods cut their price target on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Morgan Stanley upped their target price on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and an average price target of $494.89.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the transaction, the insider now directly owns 5,811 shares of the company’s stock, valued at approximately $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,715 shares of company stock worth $11,983,436. 0.96% of the stock is owned by insiders.

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.