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

Ameriprise Financial, Inc. (NYSE:AMP - Get Free Report) declared a quarterly dividend on Monday, April 22nd, RTT News reports. Shareholders of record on Monday, May 6th will be given a dividend of 1.48 per share by the financial services provider on Friday, May 17th. This represents a $5.92 annualized dividend and a yield of 1.41%. This is an increase from Ameriprise Financial's previous quarterly dividend of $1.35.

Ameriprise Financial has increased its dividend by an average of 9.0% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Ameriprise Financial has a payout ratio of 14.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Ameriprise Financial to earn $37.13 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 14.5%.

Ameriprise Financial Price Performance

NYSE:AMP traded up $4.32 during mid-day trading on Monday, hitting $421.33. 537,915 shares of the company's stock traded hands, compared to its average volume of 494,059. The company has a market cap of $42.21 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.36. Ameriprise Financial has a 1 year low of $279.85 and a 1 year high of $440.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.56 and a current ratio of 0.56. The firm's 50 day simple moving average is $417.37 and its 200 day simple moving average is $379.18.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The financial services provider reported $8.39 EPS for the quarter, topping analysts' consensus estimates of $8.14 by $0.25. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.15 billion. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.25 earnings per share. Sell-side analysts expect that Ameriprise Financial will post 34.43 EPS for the current year.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a "market perform" rating in a report on Wednesday, April 10th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Monday, January 22nd. Morgan Stanley raised their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. Finally, Evercore ISI raised their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Ameriprise Financial currently has an average rating of "Hold" and a consensus target price of $441.00.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares of the company's stock, valued at $4,731,807.72. The sale was disclosed in a filing with the SEC, which is available at this link. In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares of the company's stock, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William F. Truscott sold 9,689 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the transaction, the chief executive officer now directly owns 12,126 shares in the company, valued at $4,731,807.72. The disclosure for this sale can be found here. Insiders have sold a total of 89,161 shares of company stock valued at $35,560,647 over the last ninety days. Corporate insiders own 0.96% 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.