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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Stockholders of record on Monday, August 5th will be given a dividend of 1.48 per share by the financial services provider on Friday, August 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, August 5th.

Ameriprise Financial has raised its dividend by an average of 9.0% annually over the last three years and has raised its dividend every year for the last 20 years. Ameriprise Financial has a payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $38.22 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 15.5%.

Ameriprise Financial Stock Down 3.8 %

AMP stock opened at $402.61 on Friday. The firm has a market cap of $39.99 billion, a PE ratio of 13.70, a PEG ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. Ameriprise Financial has a one year low of $306.63 and a one year high of $449.94. The firm’s 50 day moving average price is $430.64 and its 200-day moving average price is $419.58.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.44 earnings per share. On average, equities research analysts anticipate that Ameriprise Financial will post 34.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $4,818,770. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of research analyst reports. Evercore ISI boosted their target price 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. Keefe, Bruyette & Woods cut their target price on Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Piper Sandler cut their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group dropped their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $464.33.

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.