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

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

Ameriprise Financial Trading Up 1.0 %

NYSE AMP opened at $421.33 on Tuesday. Ameriprise Financial has a 12 month low of $279.85 and a 12 month 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 price-to-earnings-growth ratio of 0.69 and a beta of 1.36. The company’s fifty day moving average price is $417.37 and its two-hundred day moving average price is $379.18.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a 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%.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Gumer Alvero sold 1,652 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $437.00, for a total value of $721,924.00. Following the transaction, the insider now directly 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 is available at this link. Also, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was 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 $559,159.44. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock worth $35,560,647 in the last ninety days. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMP has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Piper Sandler raised 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. Raymond James started coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods raised their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.