Ameriprise Financial (NYSE:AMP) Posts Earnings Results, Beats Estimates By $0.29 EPS

Ameriprise Financial (NYSE:AMP) released its quarterly earnings data on Wednesday. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29, Briefing.com reports. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company posted $7.25 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year.

Ameriprise Financial Trading Down 0.5 %

NYSE AMP opened at $410.64 on Friday. Ameriprise Financial has a fifty-two week low of $279.85 and a fifty-two week high of $440.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day simple moving average of $418.41 and a two-hundred day simple moving average of $380.19. The stock has a market cap of $41.14 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a $1.48 dividend. The ex-dividend date is Friday, May 3rd. This represents a $5.92 annualized dividend and a yield of 1.44%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMP shares. Morgan Stanley upped their target price 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. Royal Bank of Canada upped their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a research note on Wednesday. Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. UBS Group upped their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods upped their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $449.57.

Insiders Place Their Bets

In other news, CFO Walter Stanley Berman sold 13,346 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO James M. Cracchiolo sold 2,493 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $401.11, for a total transaction of $999,967.23. Following the completion of the transaction, the chief executive officer now owns 196,598 shares of the company’s stock, valued at approximately $78,857,423.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,472 shares of company stock worth $31,779,805. 0.73% of the stock is currently owned by company insiders.

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.