Ameriprise Financial (NYSE:AMP - Get Free Report) announced its earnings results on Thursday. The financial services provider reported $9.11 earnings per share for the quarter, beating analysts' consensus estimates of $9.00 by $0.11, Briefing.com reports. Ameriprise Financial had a net margin of 18.30% and a return on equity of 65.90%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm earned $8.72 earnings per share. The business's revenue for the quarter was up 2.2% on a year-over-year basis.
Ameriprise Financial Stock Performance
Shares of NYSE:AMP traded up $3.93 during midday trading on Friday, hitting $521.03. The company had a trading volume of 465,228 shares, compared to its average volume of 421,686. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market cap of $49.61 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.11 and a beta of 1.23. Ameriprise Financial has a 12-month low of $385.74 and a 12-month high of $582.05. The company has a fifty day moving average of $522.24 and a two-hundred day moving average of $511.44.
Ameriprise Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 4th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $6.40 annualized dividend and a dividend yield of 1.23%. Ameriprise Financial's dividend payout ratio (DPR) is 19.91%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on AMP shares. Raymond James Financial raised their target price on shares of Ameriprise Financial from $518.00 to $582.00 and gave the company a "strong-buy" rating in a research note on Friday. Morgan Stanley cut shares of Ameriprise Financial from an "equal weight" rating to an "underweight" rating and increased their price target for the company from $462.00 to $530.00 in a report on Tuesday, July 15th. Piper Sandler increased their price target on shares of Ameriprise Financial from $423.00 to $434.00 and gave the company an "underweight" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of Ameriprise Financial from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, William Blair cut shares of Ameriprise Financial from an "outperform" rating to a "market perform" rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $533.86.
View Our Latest Research Report on AMP
Institutional Investors Weigh In On Ameriprise Financial
An institutional investor recently raised its position in Ameriprise Financial stock. Empowered Funds LLC boosted its holdings in Ameriprise Financial, Inc. (NYSE:AMP - Free Report) by 11.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,022 shares of the financial services provider's stock after buying an additional 634 shares during the period. Empowered Funds LLC's holdings in Ameriprise Financial were worth $2,915,000 as of its most recent SEC filing. 83.95% of the stock is owned by institutional investors.
Ameriprise Financial announced that its board has approved a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $4.50 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Ameriprise Financial Company Profile
(
Get Free Report)
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.
Featured Articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ameriprise Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ameriprise Financial wasn't on the list.
While Ameriprise Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.