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

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Monday, November 4th will be given a dividend of 1.48 per share by the financial services provider on Friday, November 15th. This represents a $5.92 annualized dividend and a dividend yield of 1.14%.

Ameriprise Financial has increased its dividend payment 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 $38.52 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 15.4%.

Ameriprise Financial Stock Performance

AMP stock opened at $520.47 on Thursday. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $524.89. The firm has a market cap of $51.70 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The stock has a 50-day moving average price of $464.19 and a 200-day moving average price of $439.06. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $7.44 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts expect that Ameriprise Financial will post 34.92 earnings per share for the current year.

Insider Transactions at Ameriprise Financial

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the transaction, the vice president now owns 13,199 shares in the company, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AMP shares. Royal Bank of Canada boosted their target price on Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their target price for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Piper Sandler decreased their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. UBS Group lifted their price target on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley lifted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $480.44.

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.