Ameriprise Financial, Inc. (NYSE:AMP) Announces Quarterly Dividend of $1.48

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Investors of record on Monday, May 6th will be given a dividend of 1.48 per share by the financial services provider on Friday, May 17th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35.

Ameriprise Financial has increased its dividend by an average of 9.0% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Ameriprise Financial has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $37.99 per share next year, which means the company should continue to be able to cover its $5.92 annual dividend with an expected future payout ratio of 15.6%.

Ameriprise Financial Stock Up 0.4 %

AMP stock opened at $413.46 on Thursday. The company’s 50 day moving average price is $419.68 and its 200 day moving average price is $382.97. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The firm has a market capitalization of $41.42 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.70 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.25 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial will post 34.74 EPS for the current fiscal year.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. Piper Sandler increased their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. UBS Group increased their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group increased their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Keefe, Bruyette & Woods increased their price objective on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Raymond James initiated coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $449.57.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the sale, the insider now directly owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the completion of the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at $2,485,474.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,326 shares of company stock worth $29,775,593. 0.73% of the stock is owned by corporate insiders.

Ameriprise Financial Company 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.