Ameriprise Financial, Inc. (NYSE:AMP) to Issue Quarterly Dividend of $1.70

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Monday, August 3rd will be given a dividend of 1.70 per share by the financial services provider on Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 3rd.

Ameriprise Financial has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 21 years. Ameriprise Financial has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $47.96 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 14.2%.

Ameriprise Financial Stock Down 0.9%

Shares of Ameriprise Financial stock traded down $4.68 on Thursday, reaching $522.14. 929,194 shares of the company were exchanged, compared to its average volume of 690,509. The company has a market capitalization of $46.94 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.94 and a beta of 1.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. Ameriprise Financial has a one year low of $422.37 and a one year high of $550.18. The company has a 50-day moving average of $474.03 and a 200 day moving average of $474.45.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.57% and a return on equity of 62.88%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the company earned $9.11 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Ameriprise Financial will post 43.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Morgan Stanley lifted their price target on Ameriprise Financial from $467.00 to $489.00 and gave the stock an “underweight” rating in a report on Friday, July 10th. Piper Sandler boosted their price target on Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Keefe, Bruyette & Woods assumed coverage on Ameriprise Financial in a research note on Friday, April 10th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets raised their price objective on Ameriprise Financial from $470.00 to $490.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $553.67.

About Ameriprise Financial

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.