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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Shareholders of record on Monday, August 5th will be paid a dividend of 1.48 per share by the financial services provider on Friday, August 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.40%.

Ameriprise Financial has raised its dividend payment by an average of 9.0% annually over the last three years and has increased its dividend every year for the last 20 years. Ameriprise Financial has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Ameriprise Financial to earn $38.49 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 Up 0.7 %

NYSE AMP traded up $2.86 during mid-day trading on Wednesday, reaching $424.25. 995,490 shares of the company’s stock traded hands, compared to its average volume of 485,828. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $449.94. The company has a fifty day simple moving average of $432.03 and a 200-day simple moving average of $417.06. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The company has a market cap of $42.14 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.66 and a beta of 1.37.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the firm earned $7.25 EPS. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that Ameriprise Financial will post 34.91 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total value of $657,105.00. Following the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMP shares. The Goldman Sachs Group raised their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods lifted their target price on Ameriprise Financial from $460.00 to $470.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Piper Sandler decreased their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. UBS Group decreased their target price on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Morgan Stanley lifted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $462.89.

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.