Ameriprise Financial, Inc. (NYSE:AMP) Declares Dividend Increase – $1.48 Per Share

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Investors of record on Monday, May 6th will be paid 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 dividend 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% annually over the last three years and has increased its dividend every year for the last 19 years. Ameriprise Financial has a payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.0 %

NYSE:AMP opened at $421.33 on Tuesday. The company has a market cap of $42.21 billion, a PE ratio of 17.77, a P/E/G ratio of 0.69 and a beta of 1.36. Ameriprise Financial has a one year low of $279.85 and a one 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 firm’s 50 day simple moving average is $417.37 and its 200 day simple moving average is $379.18.

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

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction dated Friday, January 26th. The shares were 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 $4,731,807.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction 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 $4,731,807.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Edward Sweeney sold 5,146 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the sale, the insider now owns 9,421 shares of the company’s stock, valued at approximately $3,669,196.87. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock worth $35,560,647 over the last quarter. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

AMP has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research report on Friday, April 5th. Morgan Stanley increased their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Evercore ISI increased their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. UBS Group increased their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group increased their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ameriprise Financial has a consensus rating of “Hold” and a consensus price target of $441.00.

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.