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 given a dividend of 1.48 per share by the financial services provider on Friday, February 28th. This represents a $5.92 annualized dividend and a yield of 1.03%.

Ameriprise Financial has raised its dividend 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% indicating that 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 AMP stock traded up $3.44 on Wednesday, reaching $575.28. The company had a trading volume of 797,600 shares, compared to its average volume of 477,389. The stock has a market capitalization of $55.81 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a one year low of $378.05 and a one year high of $577.89. The business’s 50-day moving average is $548.34 and its 200 day moving average is $495.95.

Insider Transactions at Ameriprise Financial

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

Analyst Ratings Changes

A number of research analysts have recently commented on AMP shares. Morgan Stanley increased their target price 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. 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 report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a report on Monday. 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 data from MarketBeat, Ameriprise Financial 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.