Ameriprise Financial, Inc. (NYSE:AMP) Announces Quarterly Dividend of $1.70

Key Points

• Ameriprise Financial declared a quarterly dividend of $1.70 per share, payable November 27 to shareholders of record on November 9. The dividend equates to $6.80 annually and a 1.4% yield.
• The company has increased its dividend for 21 consecutive years, with a low 17.2% payout ratio, indicating substantial earnings coverage.
• Ameriprise reported quarterly EPS of $11.26, below the $11.77 analyst consensus, while revenue rose 6.8% year over year to $5.08 billion. Analysts’ average rating is “Hold,” with a consensus price target of $557.

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 9th will be paid a dividend of $1.70 per share by the financial services provider on Friday, November 27th. This represents a $6.80 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th.

Ameriprise Financial has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 21 years. Ameriprise Financial has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ameriprise Financial to earn $50.85 per share next year, which means the company should continue to be able to cover its $6.80 annual dividend with an expected future payout ratio of 13.4%.

Ameriprise Financial Stock Performance

NYSE AMP opened at $498.61 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.71 and a quick ratio of 0.71. Ameriprise Financial has a 1-year low of $422.37 and a 1-year high of $572.56. The company has a market cap of $44.82 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.05 and a beta of 1.16. The stock has a 50-day moving average of $520.69 and a two-hundred day moving average of $493.07.

Ameriprise Financial (NYSE:AMP - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing analysts' consensus estimates of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 64.19% and a net margin of 20.24%. The firm had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the previous year, the company posted $9.92 EPS. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Ameriprise Financial will post 46.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective on Ameriprise Financial from $645.00 to $638.00 in a research note on Monday, October 12th. Weiss Ratings raised Ameriprise Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 3rd. Raymond James Financial raised their target price on Ameriprise Financial from $582.00 to $638.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 21st. Zacks Research downgraded shares of Ameriprise Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. Finally, Evercore decreased their price target on shares of Ameriprise Financial from $625.00 to $623.00 in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of "Hold" and a consensus price target of $557.00.

About Ameriprise Financial

Ameriprise Financial, Inc NYSE: AMP is a diversified financial services company that provides advice, wealth management, asset management, insurance and retirement solutions. Through its network of financial advisors and digital platforms, the company serves individuals, families, businesses and institutions with financial planning, investment management and related services.

Its products and services include brokerage and advisory accounts, mutual funds and exchange-traded funds, retirement plans, annuities, life and long-term care insurance, banking services and financial planning.

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