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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Monday, February 10th will be paid a dividend of 1.48 per share by the financial services provider on Friday, February 28th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%.

Ameriprise Financial has increased its dividend payment by an average of 9.3% per year over the last three years and has increased its dividend annually for the last 18 consecutive years. Ameriprise Financial has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $39.04 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

Shares of Ameriprise Financial stock traded up $3.44 during mid-day trading on Wednesday, reaching $575.28. 797,600 shares of the stock were exchanged, compared to its average volume of 477,389. The company has a market cap of $55.81 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a 50-day simple moving average of $548.34 and a 200 day simple moving average of $495.95. Ameriprise Financial has a fifty-two week low of $378.05 and a fifty-two week high of $577.89.

Insiders Place Their Bets

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $549.68, for a total value of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gumer Alvero sold 2,325 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $516.05, for a total transaction of $1,199,816.25. Following the completion of the transaction, the insider now owns 4,669 shares in the company, valued at approximately $2,409,437.45. This represents a 33.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,715 shares of company stock worth $11,983,436. Company insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a report on Monday. Keefe, Bruyette & Woods decreased their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley increased their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $503.22.

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.