CNB Bank Decreases Position in Ameriprise Financial, Inc. (NYSE:AMP)

CNB Bank decreased its stake in shares of Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,063 shares of the financial services provider's stock after selling 500 shares during the period. Ameriprise Financial makes up about 1.0% of CNB Bank's investment portfolio, making the stock its 22nd largest holding. CNB Bank's holdings in Ameriprise Financial were worth $1,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PDS Planning Inc raised its holdings in Ameriprise Financial by 6.1% during the first quarter. PDS Planning Inc now owns 821 shares of the financial services provider's stock worth $397,000 after acquiring an additional 47 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its stake in Ameriprise Financial by 6.9% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 4,232 shares of the financial services provider's stock valued at $2,049,000 after purchasing an additional 272 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Ameriprise Financial by 13.9% in the first quarter. Sequoia Financial Advisors LLC now owns 7,667 shares of the financial services provider's stock valued at $3,712,000 after acquiring an additional 938 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Ameriprise Financial by 5.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 438,596 shares of the financial services provider's stock worth $212,329,000 after purchasing an additional 21,447 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Ameriprise Financial during the 1st quarter worth $76,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMP. Keefe, Bruyette & Woods boosted their target price on shares of Ameriprise Financial from $510.00 to $520.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Morgan Stanley increased their target price on Ameriprise Financial from $507.00 to $542.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Royal Bank Of Canada upped their target price on Ameriprise Financial from $550.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, Raymond James Financial upgraded Ameriprise Financial from a "market perform" rating to a "strong-buy" rating and set a $518.00 price target for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ameriprise Financial has an average rating of "Hold" and an average target price of $517.13.

Ameriprise Financial Stock Up 0.6%

Ameriprise Financial stock traded up $3.02 during mid-day trading on Friday, reaching $528.50. The stock had a trading volume of 654,277 shares, compared to its average volume of 498,802. Ameriprise Financial, Inc. has a fifty-two week low of $385.74 and a fifty-two week high of $582.05. The stock's 50-day simple moving average is $501.01 and its 200-day simple moving average is $511.71. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $50.32 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.96 and a beta of 1.24.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $9.50 earnings per share for the quarter, beating the consensus estimate of $9.08 by $0.42. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.45 billion. Ameriprise Financial had a net margin of 17.14% and a return on equity of 68.93%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $8.39 EPS. On average, sell-side analysts forecast that Ameriprise Financial, Inc. will post 38.64 EPS for the current fiscal year.

Ameriprise Financial declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 24th that allows the company to repurchase $4.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 5th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.21%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.48. The ex-dividend date was Monday, May 5th. Ameriprise Financial's dividend payout ratio is presently 21.75%.

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.