Ameriprise Financial, Inc. (AMP) To Go Ex-Dividend on November 10th

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Thursday, October 30th. Shareholders of record on Monday, November 10th will be paid a dividend of 1.60 per share by the financial services provider on Monday, November 24th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th.

Ameriprise Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Ameriprise Financial has a payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $42.42 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 15.1%.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $461.68 on Friday. The firm’s 50-day moving average is $484.77 and its 200-day moving average is $502.61. The company has a market cap of $42.89 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.62 and a current ratio of 0.62. Ameriprise Financial has a 52-week low of $396.14 and a 52-week high of $582.05.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Thursday, October 30th. The financial services provider reported $9.92 earnings per share for the quarter, topping analysts’ consensus estimates of $9.76 by $0.16. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.51 billion. Ameriprise Financial had a return on equity of 65.90% and a net margin of 18.30%.The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $9.02 earnings per share. Equities research analysts anticipate that Ameriprise Financial will post 38.64 earnings per share for the current year.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, EVP Heather J. Melloh sold 1,500 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $512.34, for a total transaction of $768,510.00. Following the sale, the executive vice president directly owned 2,562 shares of the company’s stock, valued at approximately $1,312,615.08. This represents a 36.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 9,929 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $506.89, for a total transaction of $5,032,910.81. Following the completion of the sale, the chief executive officer directly owned 11,047 shares in the company, valued at approximately $5,599,613.83. The trade was a 47.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC lifted its stake in shares of Ameriprise Financial by 71.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 53 shares of the financial services provider’s stock worth $28,000 after buying an additional 22 shares during the last quarter. TD Capital Management LLC increased its stake in Ameriprise Financial by 566.7% during the 1st quarter. TD Capital Management LLC now owns 60 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 51 shares during the period. Wealth Preservation Advisors LLC acquired a new position in Ameriprise Financial in the first quarter valued at about $29,000. Salomon & Ludwin LLC lifted its holdings in shares of 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 period. Finally, Winnow Wealth LLC acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 83.95% 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.