Ameriprise Financial (AMP) to Release Quarterly Earnings on Monday

Ameriprise Financial (NYSE:AMP) is set to announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $8.14 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company posted $6.94 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts expect Ameriprise Financial to post $34 EPS for the current fiscal year and $37 EPS for the next fiscal year.

Ameriprise Financial Stock Up 1.1 %

AMP stock opened at $417.01 on Friday. The stock has a market capitalization of $41.78 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The business has a fifty day moving average price of $416.89 and a 200-day moving average price of $377.64. Ameriprise Financial has a 1-year low of $279.85 and a 1-year high of $440.67.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.29%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.78%.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. UBS Group lifted their price target on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Evercore ISI boosted their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Piper Sandler boosted their target price on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $441.00.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the sale, the director now owns 12,500 shares in the company, valued at $4,832,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Gumer Alvero sold 1,652 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the sale, the director now owns 12,500 shares in the company, valued at approximately $4,832,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,161 shares of company stock valued at $35,560,647. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. purchased a new stake in Ameriprise Financial in the 4th quarter worth approximately $201,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Ameriprise Financial by 100.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 956 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 480 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $208,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Ameriprise Financial during the 4th quarter worth approximately $1,466,000. Finally, Employees Retirement System of Texas grew its holdings in Ameriprise Financial by 9.0% during the fourth quarter. Employees Retirement System of Texas now owns 158,000 shares of the financial services provider’s stock valued at $60,013,000 after purchasing an additional 13,000 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

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.