Ameriprise Financial, Inc. (NYSE:AMP) Declares Quarterly Dividend of $1.25

Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Investors of record on Friday, February 10th will be given a dividend of 1.25 per share by the financial services provider on Tuesday, February 28th. This represents a $5.00 annualized dividend and a dividend yield of 1.46%.

Ameriprise Financial has increased its dividend payment by an average of 8.6% annually over the last three years and has raised its dividend every year for the last 17 years. Ameriprise Financial has a dividend payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ameriprise Financial to earn $29.36 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 17.0%.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock traded up $2.01 during trading on Wednesday, hitting $343.01. 661,457 shares of the company’s stock traded hands, compared to its average volume of 531,485. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.79 and a quick ratio of 0.79. Ameriprise Financial has a 1 year low of $219.99 and a 1 year high of $343.79. The stock has a market capitalization of $36.50 billion, a P/E ratio of 14.22, a PEG ratio of 0.67 and a beta of 1.46. The business has a 50-day simple moving average of $321.98 and a 200-day simple moving average of $290.96.

Ameriprise Financial (NYSE:AMP – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $6.43 EPS for the quarter, beating the consensus estimate of $5.82 by $0.61. Ameriprise Financial had a return on equity of 61.53% and a net margin of 19.17%. The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm posted $5.91 earnings per share. Ameriprise Financial’s revenue was up 20.3% compared to the same quarter last year. As a group, analysts forecast that Ameriprise Financial will post 24.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group raised their target price on Ameriprise Financial from $355.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, January 9th. Credit Suisse Group raised their target price on Ameriprise Financial to $351.00 in a research report on Tuesday, November 1st. Keefe, Bruyette & Woods cut Ameriprise Financial from an “outperform” rating to a “market perform” rating and set a $325.00 target price on the stock. in a research report on Sunday, December 18th. Piper Sandler raised their target price on Ameriprise Financial from $240.00 to $250.00 and gave the stock an “underweight” rating in a research report on Friday, October 7th. Finally, The Goldman Sachs Group lifted their price objective on Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, November 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial currently has a consensus rating of “Hold” and an average price target of $332.70.

Insider Buying and Selling

In other news, insider Dawn M. Brockman sold 410 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now owns 875 shares of the company’s stock, valued at $271,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Dawn M. Brockman sold 410 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now owns 875 shares of the company’s stock, valued at $271,801.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James M. Cracchiolo sold 13,050 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $333.02, for a total transaction of $4,345,911.00. Following the completion of the transaction, the chief executive officer now directly owns 160,597 shares in the company, valued at approximately $53,482,012.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,737 shares of company stock valued at $9,796,822. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its holdings in Ameriprise Financial by 106.6% during the 1st quarter. Brown Brothers Harriman & Co. now owns 126 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 65 shares in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $53,000. Industrial Alliance Investment Management Inc. boosted its holdings in shares of Ameriprise Financial by 21.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 272 shares of the financial services provider’s stock valued at $82,000 after buying an additional 48 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Ameriprise Financial by 43.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 375 shares of the financial services provider’s stock valued at $112,000 after buying an additional 114 shares in the last quarter. Finally, qPULA Trading Management LP bought a new stake in shares of Ameriprise Financial in the 1st quarter valued at about $205,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.