Ameriprise Financial (NYSE:AMP) Announces Earnings Results

Ameriprise Financial (NYSE:AMP) issued its quarterly earnings results on Wednesday. The financial services provider reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.30), MarketWatch Earnings reports. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Ameriprise Financial had a return on equity of 34.99% and a net margin of 20.32%. The business’s revenue for the quarter was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.06 EPS.

Shares of NYSE AMP opened at $153.63 on Friday. Ameriprise Financial has a twelve month low of $80.01 and a twelve month high of $180.85. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $149.89 and a 200-day simple moving average of $139.41. The stock has a market capitalization of $18.60 billion, a PE ratio of 8.03 and a beta of 1.85.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Monday, August 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 2.71%. Ameriprise Financial’s payout ratio is presently 25.84%.

AMP has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on Ameriprise Financial from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 3rd. Morgan Stanley raised their target price on Ameriprise Financial from $150.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research note on Tuesday, May 19th. ValuEngine cut Ameriprise Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 7th. Finally, TheStreet raised Ameriprise Financial from a “c+” rating to a “b-” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. Ameriprise Financial presently has a consensus rating of “Buy” and a consensus target price of $167.90.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.

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Earnings History for Ameriprise Financial (NYSE:AMP)

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