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

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Monday, April 22nd, RTT News reports. Shareholders of record on Monday, May 6th will be given a dividend of 1.48 per share by the financial services provider on Friday, May 17th. This represents a $5.92 annualized dividend and a yield of 1.41%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35.

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 annually for the last 19 consecutive years. Ameriprise Financial has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $37.13 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 14.5%.

Ameriprise Financial Trading Up 1.0 %

AMP stock opened at $421.33 on Tuesday. Ameriprise Financial has a 1-year low of $279.85 and a 1-year high of $440.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.36. The business has a 50 day simple moving average of $417.37 and a two-hundred day simple moving average of $379.18.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.14 by $0.25. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company posted $7.25 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts anticipate that Ameriprise Financial will post 34.43 EPS for the current fiscal year.

Insider Activity at Ameriprise Financial

In related news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, CEO James M. Cracchiolo sold 2,493 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $401.11, for a total value of $999,967.23. Following the sale, the chief executive officer now owns 196,598 shares in the company, valued at $78,857,423.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the sale, the chief executive officer now owns 12,126 shares in the company, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,161 shares of company stock worth $35,560,647. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

AMP has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada increased their target price on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. The Goldman Sachs Group increased their target price on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Evercore ISI increased their target price on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, UBS Group increased their target price on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $441.00.

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.