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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors 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 yield of 1.18%. The ex-dividend date of this dividend is Monday, November 4th.

Ameriprise Financial has raised its dividend by an average of 9.0% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Ameriprise Financial has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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

NYSE AMP opened at $503.24 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $524.89. The company has a market cap of $49.98 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The stock’s 50 day simple moving average is $464.19 and its 200-day simple moving average is $439.06.

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

Analyst Ratings Changes

A number of research firms have commented on AMP. Jefferies Financial Group increased their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler reduced their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating on the stock in a research report on Friday, June 28th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $480.44.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial 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 sale, the vice president now owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.73% of the company’s stock.

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.