Ameriprise Financial, Inc. (AMP) To Go Ex-Dividend on February 9th

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Monday, February 9th will be paid a dividend of 1.60 per share by the financial services provider on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, February 9th.

Ameriprise Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Ameriprise Financial has a payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $42.42 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 15.1%.

Ameriprise Financial Trading Up 1.1%

AMP opened at $527.09 on Friday. The firm has a market cap of $48.97 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.26. Ameriprise Financial has a twelve month low of $396.14 and a twelve month high of $552.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s fifty day moving average is $491.17 and its two-hundred day moving average is $492.19.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 EPS for the quarter, topping the consensus estimate of $10.33 by $0.50. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period last year, the company posted $9.54 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial will post 38.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler upgraded shares of Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $434.00 to $530.00 in a report on Friday. Argus cut their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Evercore ISI dropped their target price on Ameriprise Financial from $587.00 to $570.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. BMO Capital Markets started coverage on shares of Ameriprise Financial in a research report on Friday, October 3rd. They issued a “market perform” rating and a $525.00 price target for the company. Finally, Morgan Stanley boosted their price target on Ameriprise Financial from $484.00 to $485.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $540.75.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.