Ameriprise Financial (NYSE:AMP) Announces Earnings Results, Beats Estimates By $0.29 EPS

Ameriprise Financial (NYSE:AMP) announced its earnings results on Monday. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.29, Briefing.com reports. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.25 EPS.

Ameriprise Financial Stock Performance

Shares of AMP opened at $412.86 on Thursday. Ameriprise Financial has a one year low of $279.85 and a one year high of $440.67. The company has a 50-day moving average of $418.15 and a two-hundred day moving average of $379.98. The stock has a market cap of $41.36 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.67 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56.

Ameriprise Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.43%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is presently 18.38%.

Insider Transactions at Ameriprise Financial

In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William F. Truscott sold 8,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares of the company’s stock, valued at $5,411,864.70. The disclosure for this sale can be found here. Insiders sold 89,161 shares of company stock valued at $35,560,647 over the last three months. 0.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada raised their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler raised their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Morgan Stanley raised their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $449.57.

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.