Ameriprise Financial (NYSE:AMP) Posts Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Ameriprise Financial (NYSE:AMP) announced its quarterly earnings data on Wednesday. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29, Briefing.com reports. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business earned $7.25 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $410.64 on Friday. The firm has a market cap of $41.14 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. Ameriprise Financial has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $418.41 and its two-hundred day simple moving average is $380.19.

Ameriprise Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 3rd. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.38%.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the sale, the senior vice president now owns 1,288 shares of the company’s stock, valued at approximately $559,159.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial 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 directly owns 6,994 shares in the company, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders have sold a total of 79,472 shares of company stock valued at $31,779,805 in the last quarter. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMP shares. The Goldman Sachs Group upped their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating for the company. 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 stock. Based on data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $449.57.

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.