Ameriprise Financial, Inc. (AMP) to Issue Quarterly Dividend of $1.60 on February 27th

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Thursday, January 29th. Investors 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%per year 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% meaning 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 Stock Performance

Shares of AMP opened at $543.46 on Friday. The business has a 50-day simple moving average of $499.62 and a two-hundred day simple moving average of $492.31. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial has a 52 week low of $396.14 and a 52 week high of $552.43. The stock has a market cap of $50.49 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.25 and a beta of 1.26.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.54 EPS. On average, analysts expect that Ameriprise Financial will post 38.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMP. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ameriprise Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods dropped their target price on shares of Ameriprise Financial from $550.00 to $530.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Morgan Stanley increased their price target on Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Finally, Argus cut their target price on Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $555.67.

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.