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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Stockholders of record on Monday, February 10th will be paid a dividend of 1.48 per share by the financial services provider on Friday, February 28th. This represents a $5.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Monday, February 10th.

Ameriprise Financial has raised its dividend payment by an average of 9.3% annually over the last three years and has raised its dividend every year for the last 18 years. Ameriprise Financial has a dividend payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ameriprise Financial to earn $42.51 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 13.9%.

Ameriprise Financial Price Performance

Shares of AMP opened at $538.59 on Friday. The company has a market cap of $52.25 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. Ameriprise Financial has a twelve month low of $385.74 and a twelve month high of $582.05. The company has a 50 day moving average of $544.84 and a two-hundred day moving average of $500.82. The company has a quick ratio of 0.65, a current ratio of 0.59 and a debt-to-equity ratio of 1.01.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping analysts’ consensus estimates of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. As a group, analysts predict that Ameriprise Financial will post 38.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler increased their price objective on Ameriprise Financial from $415.00 to $442.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $560.00 to $570.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 target price on shares of Ameriprise Financial in a report on Monday, February 3rd. Finally, UBS Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus target price of $510.44.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at approximately $3,615,701.44. The trade was a 57.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is currently owned by insiders.

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.