Ameriprise Financial, Inc. (AMP) to Issue Quarterly Dividend of $1.48 on May 17th

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Monday, April 22nd, RTT News reports. Stockholders 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 is Friday, May 3rd. This is an increase 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 increased its dividend every year for the last 19 years. Ameriprise Financial has a payout ratio of 14.3% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 3.3 %

AMP opened at $407.27 on Wednesday. The stock has a market cap of $40.80 billion, a PE ratio of 17.18, a PEG ratio of 0.69 and a beta of 1.36. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average of $417.72 and a 200-day moving average of $379.75. Ameriprise Financial has a 52 week low of $279.85 and a 52 week high of $440.67.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on AMP shares. Royal Bank of Canada raised their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Evercore ISI raised their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. UBS Group raised their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. One equities research 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $441.00.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,161 shares of company stock valued at $35,560,647. Corporate 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.