Ameriprise Financial (NYSE:AMP) Posts Quarterly Earnings Results, Beats Expectations By $0.29 EPS

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

Ameriprise Financial Stock Performance

NYSE:AMP opened at $412.86 on Thursday. The company has a market capitalization of $41.36 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. Ameriprise Financial has a twelve month low of $279.85 and a twelve month high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $418.15 and a two-hundred day moving average price of $379.98.

Ameriprise Financial Increases Dividend

The firm 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 dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Insider Transactions at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the sale, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gumer Alvero sold 1,652 shares of Ameriprise Financial stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the sale, the insider now owns 6,994 shares of the company’s stock, valued at $3,056,378. The disclosure for this sale can be found here. Insiders sold a total of 89,161 shares of company stock worth $35,560,647 over the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMP has been the subject of several recent analyst reports. 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 note on Tuesday, April 9th. 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 note on Wednesday, March 27th. 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 note on Wednesday. Raymond James initiated coverage on shares of Ameriprise Financial in a research note on Thursday, March 21st. They issued a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.