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

Ameriprise Financial, Inc. (NYSE:AMP) announced 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 1.14%.

Ameriprise Financial has raised its dividend payment 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 15.5% indicating that its dividend is sufficiently covered by earnings. Research 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

Shares of NYSE AMP traded up $0.91 on Wednesday, hitting $520.47. The company’s stock had a trading volume of 387,826 shares, compared to its average volume of 470,326. The stock has a 50 day moving average of $462.17 and a 200-day moving average of $438.49. The company has a market capitalization of $51.70 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $524.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMP. The Goldman Sachs Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Piper Sandler cut their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. Finally, UBS Group upped their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $480.44.

Insider Buying and Selling

In related news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by company insiders.

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.