Ameriprise Financial, Inc. to Issue Quarterly Dividend of $1.48 (NYSE:AMP)

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors of record on Monday, November 4th will be given a dividend of 1.48 per share by the financial services provider on Friday, November 15th. This represents a $5.92 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, November 4th.

Ameriprise Financial has raised its dividend payment by an average of 9.0% annually over the last three years and has raised its dividend every year for the last 20 years. Ameriprise Financial has a payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ameriprise Financial to earn $38.83 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 0.6 %

AMP stock opened at $507.18 on Friday. The firm has a market capitalization of $49.80 billion, a PE ratio of 19.47, a P/E/G ratio of 0.89 and a beta of 1.35. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Ameriprise Financial has a twelve month low of $321.28 and a twelve month high of $524.89. The stock’s 50 day moving average is $474.94 and its 200-day moving average is $443.17.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMP shares. Royal Bank of Canada lifted their target price on Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Morgan Stanley boosted their target price on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on Ameriprise Financial from $475.00 to $510.00 and gave the company a “market perform” rating in a research note on Tuesday. UBS Group boosted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $487.67.

Insider Activity

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the sale, the vice president now owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

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.