Ameriprise Financial, Inc. (AMP) to Issue Quarterly Dividend of $1.48 on February 28th

Ameriprise Financial, Inc. (NYSE:AMP) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Stockholders of record on Monday, February 10th will be paid a dividend of 1.48 per share by the financial services provider on Friday, February 28th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, February 10th.

Ameriprise Financial has raised its dividend payment by an average of 9.3% annually over the last three years and has increased its dividend every year for the last 18 years. Ameriprise Financial has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ameriprise Financial to earn $39.04 per share next year, which means the company should continue to be able to cover its $5.92 annual dividend with an expected future payout ratio of 15.2%.

Ameriprise Financial Stock Down 4.7 %

Shares of NYSE:AMP opened at $547.95 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $53.16 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.85 and a beta of 1.36. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $582.05. The firm has a fifty day moving average price of $548.61 and a 200 day moving average price of $496.50.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a net margin of 15.99% and a return on equity of 68.52%. Sell-side analysts predict that Ameriprise Financial will post 33.96 EPS for the current year.

Insider Activity

In other news, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This trade represents a 57.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the completion of the sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMP shares. Keefe, Bruyette & Woods dropped their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $625.00 price objective on shares of Ameriprise Financial in a research note on Monday. Morgan Stanley raised their target price on shares of Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $580.00 to $570.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus target price of $503.22.

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.