Ameriprise Financial, Inc. (NYSE:AMP) Announces 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 yield of 1.40%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35.

Ameriprise Financial has increased its dividend payment by an average of 9.0% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Ameriprise Financial has a dividend 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 Price Performance

AMP stock traded up $4.37 during trading on Monday, hitting $421.38. The company had a trading volume of 532,110 shares, compared to its average volume of 493,986. The company has a fifty day moving average price of $416.89 and a two-hundred day moving average price of $378.48. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market cap of $42.22 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.69 and a beta of 1.36. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $440.67.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Monday, April 22nd. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.14 by $0.25. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. Ameriprise Financial’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.25 EPS. Equities research analysts expect that Ameriprise Financial will post 34.43 earnings per share for the current fiscal year.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Gumer Alvero sold 1,652 shares of the firm’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 sale, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now directly owns 6,409 shares in the company, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,161 shares of company stock worth $35,560,647. 0.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMP has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Morgan Stanley boosted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. UBS Group boosted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Evercore ISI upped their price target on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.