Ameriprise Financial (NYSE:AMP) Posts Earnings Results, Beats Expectations By $0.29 EPS

Ameriprise Financial (NYSE:AMP) announced its quarterly earnings data on Monday. The financial services provider reported $8.39 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29, Briefing.com reports. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $7.25 earnings per share.

Ameriprise Financial Stock Up 1.0 %

AMP opened at $421.33 on Tuesday. Ameriprise Financial has a twelve month low of $279.85 and a twelve month high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $417.37 and a 200 day moving average price of $379.18. The company has a market cap of $42.21 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.36.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio is 22.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMP. UBS Group boosted their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Raymond James initiated coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. Morgan Stanley upped their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Evercore ISI upped their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average target price of $441.00.

Insider Buying and Selling

In related news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total transaction of $721,924.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at approximately $3,056,378. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares of the company’s stock, valued at approximately $3,056,378. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock worth $35,560,647 in the last 90 days. Insiders own 0.96% of the company’s stock.

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.