Ameriprise Financial (NYSE:AMP) Posts Quarterly Earnings Results

Ameriprise Financial (NYSE:AMP) issued its quarterly earnings results on Wednesday. The financial services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20, Zacks reports. Ameriprise Financial had a return on equity of 68.52% and a net margin of 15.99%.

Ameriprise Financial Trading Up 0.6 %

Ameriprise Financial stock opened at $575.28 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65. Ameriprise Financial has a fifty-two week low of $378.05 and a fifty-two week high of $577.89. The stock has a market cap of $55.81 billion, a P/E ratio of 22.08, a PEG ratio of 0.85 and a beta of 1.36. The firm’s fifty day moving average price is $548.34 and its 200-day moving average price is $495.95.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.03%. Ameriprise Financial’s payout ratio is 22.73%.

Analyst Ratings Changes

Several research firms have commented on AMP. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. UBS Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $625.00 target price on shares of Ameriprise Financial in a research report on Monday. One 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.com, the company has an average rating of “Hold” and a consensus price target of $503.22.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 5,811 shares in the company, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the completion of the transaction, the chief financial officer now directly owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is owned by corporate 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.