Ameriprise Financial (NYSE:AMP) Issues Quarterly Earnings Results

Ameriprise Financial (NYSE:AMP) announced its quarterly earnings data on Wednesday. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19, Briefing.com reports. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a net margin of 18.64% and a return on equity of 75.96%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $7.44 EPS.

Ameriprise Financial Trading Up 4.1 %

Shares of NYSE:AMP opened at $441.67 on Friday. The company has a market cap of $43.87 billion, a PE ratio of 15.03, a P/E/G ratio of 0.67 and a beta of 1.37. The company’s 50-day moving average price is $431.84 and its 200 day moving average price is $417.28. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $449.94. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a $1.48 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.34%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $4,818,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Argus lifted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and an average target price of $462.89.

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.