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

Ameriprise Financial, Inc. (NYSE:AMP) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Stockholders of record on Monday, February 10th will be paid a dividend of 1.48 per share by the financial services provider on Friday, February 28th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, February 10th.

Ameriprise Financial has raised its dividend by an average of 9.3% annually over the last three years and has raised its dividend every year for the last 18 years. Ameriprise Financial has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ameriprise Financial to earn $39.04 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 Performance

Shares of AMP opened at $547.95 on Friday. Ameriprise Financial has a 1 year low of $378.05 and a 1 year high of $582.05. The company’s 50 day simple moving average is $548.61 and its 200 day simple moving average is $496.50. The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.85 and a beta of 1.36. 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 (NYSE:AMP) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 68.52% and a net margin of 15.99%. On average, sell-side analysts predict that Ameriprise Financial will post 33.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group cut Ameriprise Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $580.00 to $570.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price target on shares of Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $503.22.

Insider Activity

In other Ameriprise Financial news, CFO Walter Stanley Berman sold 8,655 shares of the company’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 value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. This represents a 57.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider now owns 5,811 shares in the company, valued at $3,194,190.48. This represents a 64.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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.