Ameriprise Financial (NYSE:AMP) Announces Quarterly Earnings Results

Ameriprise Financial (NYSE:AMP) posted its quarterly earnings data on Monday. The financial services provider reported $8.39 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.29, Briefing.com reports. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.25 earnings per share.

Ameriprise Financial Price Performance

AMP opened at $421.33 on Tuesday. The stock has a 50-day moving average price of $417.37 and a 200-day moving average price of $379.18. Ameriprise Financial has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $42.21 billion, a P/E ratio of 17.77, a PEG ratio of 0.69 and a beta of 1.36.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $1.48 dividend. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.41%. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMP. Raymond James assumed coverage on Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating on the stock. Evercore ISI boosted their price objective on Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Royal Bank of Canada boosted their price objective on Ameriprise Financial from $410.00 to $420.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Piper Sandler boosted their price objective on Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. Finally, UBS Group boosted their price objective on Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $441.00.

Insider Transactions at Ameriprise Financial

In related news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at approximately $559,159.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 9,689 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the sale, the chief executive officer now owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The disclosure for this sale can be found here. In the last three months, insiders sold 89,161 shares of company stock worth $35,560,647. 0.96% of the stock is currently 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.