CNB Bank Sells 223 Shares of Ameriprise Financial, Inc. $AMP

CNB Bank lowered its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,840 shares of the financial services provider’s stock after selling 223 shares during the quarter. Ameriprise Financial makes up approximately 1.0% of CNB Bank’s holdings, making the stock its 21st biggest holding. CNB Bank’s holdings in Ameriprise Financial were worth $2,050,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in Ameriprise Financial by 115.4% during the 2nd quarter. Salomon & Ludwin LLC now owns 56 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 30 shares during the last quarter. TD Capital Management LLC boosted its stake in shares of Ameriprise Financial by 566.7% in the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Ameriprise Financial in the 1st quarter valued at about $29,000. WPG Advisers LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC raised its position in shares of Ameriprise Financial by 114.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 75 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 40 shares during the period. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMP. Morgan Stanley cut their price target on shares of Ameriprise Financial from $530.00 to $484.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Piper Sandler lifted their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an “underweight” rating in a research note on Thursday, July 3rd. Raymond James Financial lifted their price target on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a “strong-buy” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their price target on shares of Ameriprise Financial from $595.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $520.00 to $550.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $539.50.

Insiders Place Their Bets

In other news, CEO William F. Truscott sold 9,929 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total value of $5,032,910.81. Following the completion of the sale, the chief executive officer owned 11,047 shares of the company’s stock, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Heather J. Melloh sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the completion of the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. The trade was a 36.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Ameriprise Financial Price Performance

NYSE AMP opened at $478.90 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Ameriprise Financial, Inc. has a 12-month low of $396.14 and a 12-month high of $582.05. The company has a market capitalization of $45.15 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26. The firm’s 50 day moving average is $494.36 and its 200-day moving average is $502.31.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.00 by $0.11. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.33 billion. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $8.72 earnings per share. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

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.