Ameriprise Financial Services, Inc. (NYSE:AMP) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Monday, November 6th will be given a dividend of 0.83 per share by the financial services provider on Friday, November 17th. This represents a $3.32 annualized dividend and a yield of 2.16%.

Ameriprise Financial Services has raised its dividend payment by an average of 13.3% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Ameriprise Financial Services has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ameriprise Financial Services to earn $12.59 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 26.4%.

Ameriprise Financial Services (AMP) traded down 0.14% during trading on Tuesday, reaching $153.97. The company had a trading volume of 1,456,150 shares. The firm’s 50-day moving average price is $145.56 and its 200 day moving average price is $135.57. Ameriprise Financial Services has a one year low of $86.25 and a one year high of $155.26. The firm has a market capitalization of $23.09 billion, a P/E ratio of 17.63 and a beta of 1.88.

Ameriprise Financial Services (NYSE:AMP) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.62 by $0.18. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $2.23 earnings per share. Equities analysts forecast that Ameriprise Financial Services will post $11.28 earnings per share for the current fiscal year.

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AMP has been the topic of a number of recent analyst reports. Royal Bank Of Canada started coverage on Ameriprise Financial Services in a report on Thursday, June 29th. They set a “sector perform” rating and a $135.00 price target on the stock. BidaskClub upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley raised their price objective on Ameriprise Financial Services from $148.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a research report on Thursday, July 27th. Finally, Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $149.31.

In related news, CEO William F. Truscott sold 19,768 shares of Ameriprise Financial Services stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $144.43, for a total value of $2,855,092.24. Following the completion of the transaction, the chief executive officer now owns 70,693 shares in the company, valued at $10,210,189.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James M. Cracchiolo sold 97,545 shares of Ameriprise Financial Services stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.67, for a total value of $14,111,835.15. Following the completion of the transaction, the chairman now owns 474,139 shares of the company’s stock, valued at approximately $68,593,689.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 182,979 shares of company stock valued at $26,479,126. Company insiders own 1.50% of the company’s stock.

About Ameriprise Financial Services

Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.

Dividend History for Ameriprise Financial Services (NYSE:AMP)

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