Ameriprise Financial, Inc. (AMP) to Distribute Quarterly Dividend of $1.70 on November 27th

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Monday, November 9th will be given a dividend of $1.70 per share by the financial services provider on Friday, November 27th. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th.

Ameriprise Financial has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Ameriprise Financial has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ameriprise Financial to earn $51.22 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 13.3%.

Ameriprise Financial Stock Down 1.4%

AMP opened at $502.44 on Friday. The stock has a market cap of $43.62 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.08 and a beta of 1.13. The stock’s 50 day moving average price is $514.63 and its 200 day moving average price is $493.16. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.68 and a quick ratio of 0.71. Ameriprise Financial has a 12 month low of $422.37 and a 12 month high of $572.56.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing the consensus estimate of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the firm earned $9.92 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts predict that Ameriprise Financial will post 46.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMP shares. The Goldman Sachs Group lowered their price objective on shares of Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Bank of America cut shares of Ameriprise Financial from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $570.00 to $445.00 in a research report on Monday, October 19th. Royal Bank Of Canada lifted their price objective on shares of Ameriprise Financial from $560.00 to $595.00 in a research note on Friday, July 24th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group dropped their target price on shares of Ameriprise Financial from $645.00 to $638.00 in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $557.00.

About Ameriprise Financial

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products.

The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis.

Ameriprise serves clients primarily in the United States through its network of financial advisors.