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

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.14%.

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

Ameriprise Financial stock opened at $520.47 on Thursday. Ameriprise Financial has a one year low of $306.63 and a one year high of $524.89. The business has a fifty day moving average price of $464.19 and a 200-day moving average price of $439.06. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $51.70 billion, a P/E ratio of 17.72, a PEG ratio of 0.81 and a beta of 1.35.

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

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction dated 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 transaction, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of analyst reports. Jefferies Financial Group raised their price target on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. The Goldman Sachs Group lowered 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 research note on Thursday, September 26th. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $480.44.

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.