Ameriprise Financial, Inc. (AMP) Plans Quarterly Dividend of $0.83
Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Wednesday, January 24th, RTT News reports. Investors of record on Friday, February 16th will be given a dividend of 0.83 per share by the financial services provider on Wednesday, February 28th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, February 15th.
Ameriprise Financial has increased its dividend payment by an average of 12.8% per year over the last three years and has raised its dividend every year for the last 8 years. Ameriprise Financial has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ameriprise Financial to earn $15.79 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 21.0%.
Ameriprise Financial (AMP) opened at $156.62 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.67 and a quick ratio of 0.67. Ameriprise Financial has a 1 year low of $118.84 and a 1 year high of $183.90. The firm has a market capitalization of $23,063.77, a price-to-earnings ratio of 16.59 and a beta of 1.85.
In other Ameriprise Financial news, EVP Deirdre Davey Mcgraw sold 5,500 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $174.04, for a total transaction of $957,220.00. Following the completion of the sale, the executive vice president now directly owns 8,138 shares in the company, valued at approximately $1,416,337.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Kent Stewart sold 603 shares of Ameriprise Financial stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $160.72, for a total value of $96,914.16. Following the sale, the insider now owns 20,081 shares of the company’s stock, valued at $3,227,418.32. The disclosure for this sale can be found here. Insiders have sold a total of 49,628 shares of company stock valued at $8,570,993 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
A number of research firms recently weighed in on AMP. Sandler O’Neill set a $165.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research report on Monday. Royal Bank of Canada set a $155.00 price target on Ameriprise Financial and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. ValuEngine lowered Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Morgan Stanley increased their price target on Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Finally, SunTrust Banks raised their price objective on Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ameriprise Financial presently has an average rating of “Buy” and a consensus price target of $164.98.
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Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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