Ameriprise Financial, Inc. (NYSE:AMP) Shares Sold by CNB Bank

CNB Bank reduced its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 4,563 shares of the financial services provider’s stock after selling 207 shares during the period. Ameriprise Financial makes up about 1.1% of CNB Bank’s holdings, making the stock its 20th largest holding. CNB Bank’s holdings in Ameriprise Financial were worth $2,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new position in Ameriprise Financial during the third quarter valued at approximately $31,000. Country Trust Bank grew its stake in shares of Ameriprise Financial by 213.6% during the 3rd quarter. Country Trust Bank now owns 69 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 47 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Ameriprise Financial during the 3rd quarter valued at approximately $45,000. Friedenthal Financial purchased a new position in shares of Ameriprise Financial during the 4th quarter valued at approximately $58,000. Finally, Trifecta Capital Advisors LLC lifted its stake in shares of Ameriprise Financial by 31.4% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 138 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AMP shares. UBS Group cut 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. Royal Bank of Canada lifted 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 downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Keefe, Bruyette & Woods cut their price objective on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. 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 research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $494.89.

Ameriprise Financial Trading Up 0.6 %

Shares of AMP stock opened at $549.69 on Friday. Ameriprise Financial, Inc. has a fifty-two week low of $369.29 and a fifty-two week high of $577.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s fifty day moving average is $548.44 and its two-hundred day moving average is $487.70. The firm has a market capitalization of $53.33 billion, a P/E ratio of 21.07, a PEG ratio of 0.78 and a beta of 1.36.

Ameriprise Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.08%. Ameriprise Financial’s payout ratio is presently 22.73%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $516.05, for a total value of $1,199,816.25. Following the completion of the sale, the insider now directly owns 4,669 shares in the company, valued at $2,409,437.45. This represents a 33.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now owns 5,811 shares in the company, 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. In the last quarter, insiders sold 21,715 shares of company stock valued at $11,983,436. Corporate insiders own 0.96% of the company’s stock.

About Ameriprise Financial

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.