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

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Monday, April 22nd, RTT News reports. Shareholders 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 1.45%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35.

Ameriprise Financial has increased its dividend payment by an average of 9.0% annually over the last three years and has raised its dividend every year for the last 19 years. Ameriprise Financial has a dividend payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ameriprise Financial to earn $37.13 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 14.5%.

Ameriprise Financial Stock Performance

NYSE AMP opened at $407.27 on Wednesday. The stock has a 50-day simple moving average of $417.72 and a two-hundred day simple moving average of $379.75. The firm has a market capitalization of $40.80 billion, a P/E ratio of 17.18, a PEG ratio of 0.69 and a beta of 1.36. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $7.25 EPS. On average, equities analysts forecast that Ameriprise Financial will post 34.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMP. UBS Group lifted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler raised their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Raymond James initiated coverage on Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $441.00.

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 value of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,161 shares of company stock worth $35,560,647. Insiders own 0.96% 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.