Ameriprise Financial, Inc. (AMP) To Go Ex-Dividend on August 3rd

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Monday, July 20th. Shareholders of record on Monday, August 3rd will be paid a dividend of 1.70 per share by the financial services provider on Friday, August 21st. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 3rd.

Ameriprise Financial has increased 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 17.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ameriprise Financial to earn $51.02 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 13.3%.

Ameriprise Financial Stock Up 0.5%

AMP stock opened at $547.28 on Friday. The stock has a market capitalization of $49.20 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $484.62 and a 200-day moving average price of $476.35. Ameriprise Financial has a 12 month low of $422.37 and a 12 month high of $553.46.

Ameriprise Financial (NYSE:AMP) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $11.07 earnings per share for the quarter, topping analysts’ consensus estimates of $10.81 by $0.26. Ameriprise Financial had a net margin of 20.24% and a return on equity of 64.19%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the firm posted $9.11 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Ameriprise Financial will post 45.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMP. BMO Capital Markets upped their target price on Ameriprise Financial from $470.00 to $490.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price target on Ameriprise Financial from $515.00 to $545.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Jefferies Financial Group upped their price objective on Ameriprise Financial from $636.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Ameriprise Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Finally, Piper Sandler lifted their target price on shares of Ameriprise Financial from $471.00 to $518.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $555.33.

About Ameriprise Financial

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.