Ameriprise Financial, Inc. (AMP) To Go Ex-Dividend on November 4th

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors of record on Monday, November 4th will be paid 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 yield of 1.17%. The ex-dividend date 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 every year for the last 20 years. Ameriprise Financial has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $38.83 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 15.2%.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $507.18 on Friday. The company has a market capitalization of $49.80 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.59. The business has a 50 day simple moving average of $474.94 and a 200 day simple moving average of $443.17. Ameriprise Financial has a one year low of $321.28 and a one year high of $524.89.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMP. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a report on Tuesday. The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $485.00 to $476.00 in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley boosted their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, UBS Group increased their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $487.67.

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.