Ameriprise Financial (NYSE:AMP) Releases Quarterly Earnings Results, Beats Expectations By $0.59 EPS

Ameriprise Financial (NYSE:AMPGet Rating) announced its quarterly earnings data on Wednesday. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.59, RTT News reports. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.46 billion. Ameriprise Financial had a net margin of 19.17% and a return on equity of 61.53%. Ameriprise Financial’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $6.15 earnings per share.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock traded up $2.01 during trading on Wednesday, reaching $343.01. The company’s stock had a trading volume of 661,457 shares, compared to its average volume of 532,743. The stock has a 50-day moving average price of $322.43 and a two-hundred day moving average price of $291.33. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.60. Ameriprise Financial has a one year low of $219.99 and a one year high of $343.79. The stock has a market capitalization of $36.50 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.67 and a beta of 1.46.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Friday, February 10th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.46%. Ameriprise Financial’s dividend payout ratio is 20.85%.

Wall Street Analysts Forecast Growth

AMP has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Ameriprise Financial from $240.00 to $250.00 and gave the stock an “underweight” rating in a research note on Friday, October 7th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $340.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $290.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 23rd. Finally, UBS Group lifted their price target on shares of Ameriprise Financial from $355.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $332.70.

Insider Activity at Ameriprise Financial

In related news, insider Dawn M. Brockman sold 410 shares of Ameriprise Financial stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total value of $127,358.30. Following the completion of the transaction, the insider now directly owns 875 shares of the company’s stock, valued at $271,801.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ameriprise Financial news, insider Dawn M. Brockman sold 410 shares of the business’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $310.63, for a total transaction of $127,358.30. Following the completion of the sale, the insider now directly owns 875 shares of the company’s stock, valued at approximately $271,801.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 11,983 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $327.81, for a total value of $3,928,147.23. Following the sale, the chief financial officer now directly owns 10,751 shares of the company’s stock, valued at $3,524,285.31. The disclosure for this sale can be found here. Insiders sold 29,737 shares of company stock valued at $9,796,822 over the last ninety days. 1.00% of the stock is owned by insiders.

Institutional Trading of Ameriprise Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in Ameriprise Financial during the 1st quarter worth about $396,000. Sequoia Financial Advisors LLC grew its position in shares of Ameriprise Financial by 19.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,056 shares of the financial services provider’s stock worth $317,000 after buying an additional 171 shares during the period. Fund Management at Engine No. 1 LLC acquired a new position in shares of Ameriprise Financial during the 1st quarter worth about $282,000. Laurel Wealth Advisors Inc. grew its position in shares of Ameriprise Financial by 8.9% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 859 shares of the financial services provider’s stock worth $258,000 after buying an additional 70 shares during the period. Finally, IHT Wealth Management LLC acquired a new position in shares of Ameriprise Financial during the 3rd quarter worth about $235,000. 81.66% of the stock is owned by institutional investors.

About Ameriprise Financial

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Further Reading

Earnings History for Ameriprise Financial (NYSE:AMP)

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