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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, July 24th, RTT News reports. Investors of record on Monday, August 5th will be given a dividend of 1.48 per share by the financial services provider on Friday, August 16th. This represents a $5.92 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, August 5th.

Ameriprise Financial has increased 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 $38.22 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 15.5%.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $402.61 on Friday. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $449.94. The company has a market capitalization of $39.99 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.56. The firm’s fifty day moving average price is $430.64 and its 200 day moving average price is $419.58.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $7.44 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Ameriprise Financial will post 34.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of Ameriprise Financial stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $438.07, for a total value of $657,105.00. Following the completion of the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,818,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

AMP has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. UBS Group decreased their price objective on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Argus raised their price objective on shares of Ameriprise Financial from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Jefferies Financial Group raised their price objective on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $464.33.

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.