Ameriprise Financial (NYSE:AMP) Releases Earnings Results

Ameriprise Financial (NYSE:AMP) announced its quarterly earnings data on Wednesday. The financial services provider reported $8.72 EPS for the quarter, topping the consensus estimate of $8.53 by $0.19, Briefing.com reports. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm posted $7.44 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis.

Ameriprise Financial Stock Up 4.0 %

Ameriprise Financial stock traded up $16.93 during midday trading on Thursday, hitting $441.18. 498,214 shares of the stock were exchanged, compared to its average volume of 487,325. Ameriprise Financial has a 52-week low of $306.63 and a 52-week high of $449.94. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $431.72 and its 200-day moving average price is $417.11. The stock has a market capitalization of $43.82 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.34%. Ameriprise Financial’s payout ratio is currently 20.15%.

Insider Buying and Selling at Ameriprise Financial

In related news, Director Robert Francis Sharpe, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $438.07, for a total transaction of $657,105.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $4,818,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMP shares. UBS Group reduced their price target on shares of Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Argus boosted their target price on Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada increased their price target on Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley boosted their price objective on Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial has an average rating of “Hold” and a consensus price target of $462.89.

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.