Ameriprise Financial Services Inc. (AMP) Declares Quarterly Dividend of $0.75

Ameriprise Financial Services Inc. (NYSE:AMP) announced a quarterly dividend on Tuesday, July 26th. Investors of record on Monday, August 8th will be paid a dividend of 0.75 per share on Friday, August 19th. This represents a $3.00 dividend on an annualized basis and a yield of 3.11%.

Shares of Ameriprise Financial Services (NYSE:AMP) traded up 0.31% on Tuesday, hitting $96.60. The stock had a trading volume of 1,410,581 shares. The firm has a 50 day moving average of $94.96 and a 200-day moving average of $93.00. The firm has a market capitalization of $16.02 billion and a price-to-earnings ratio of 11.37. Ameriprise Financial Services has a 1-year low of $76.00 and a 1-year high of $127.32.

Ameriprise Financial Services (NYSE:AMP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the firm posted $2.33 EPS. The firm’s revenue was down 8.2% compared to the same quarter last year. Equities analysts predict that Ameriprise Financial Services will post $9.37 earnings per share for the current year.

A number of brokerages recently weighed in on AMP. Zacks Investment Research lowered Ameriprise Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. Royal Bank Of Canada reduced their price objective on Ameriprise Financial Services from $122.00 to $121.00 and set an “outperform” rating on the stock in a research report on Thursday, April 28th. Deutsche Bank AG reduced their price objective on Ameriprise Financial Services from $122.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. RBC Capital Markets lowered Ameriprise Financial Services from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $121.00 to $98.00 in a research report on Monday. Finally, Citigroup Inc. boosted their price objective on Ameriprise Financial Services from $94.00 to $99.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $115.90.

In related news, CEO William F. Truscott sold 10,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $95.98, for a total value of $988,594.00. Following the completion of the transaction, the chief executive officer now directly owns 12,653 shares in the company, valued at approximately $1,214,434.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kelli A. Hunter sold 3,486 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $102.07, for a total transaction of $355,816.02. Following the completion of the transaction, the vice president now owns 29,258 shares of the company’s stock, valued at $2,986,364.06. The disclosure for this sale can be found here.

Ameriprise Financial, Inc is a diversified 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 Advice & Wealth Management segment provides financial planning and advice, as well as brokerage services, primarily to retail clients through advisors.