Ameriprise Financial (NYSE:AMP) Issues Quarterly Earnings Results

Ameriprise Financial (NYSE:AMP) released its earnings results on Monday. The financial services provider reported $8.39 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the company posted $7.25 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year.

Ameriprise Financial Price Performance

AMP traded down $1.95 on Thursday, hitting $410.91. 584,472 shares of the company’s stock traded hands, compared to its average volume of 503,359. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. Ameriprise Financial has a one year low of $279.85 and a one year high of $440.67. The company’s 50 day simple moving average is $418.15 and its 200-day simple moving average is $379.98. The firm has a market cap of $41.17 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.67 and a beta of 1.36.

Ameriprise Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James assumed coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating on the stock. The Goldman Sachs Group upped their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Piper Sandler upped their price target on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. Morgan Stanley raised their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Evercore ISI raised their target price on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $449.57.

Insiders Place Their Bets

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial 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 sale, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $2,485,474.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total value of $721,924.00. Following the completion of the sale, the insider now directly owns 6,994 shares in the company, valued at approximately $3,056,378. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the company’s 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 owns 6,409 shares of the company’s stock, valued at $2,485,474.29. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock valued at $35,560,647 in the last quarter. 0.73% of the stock is currently owned by insiders.

About Ameriprise Financial

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.