Ameriprise Financial Services, Inc. (AMP) Plans Quarterly Dividend of $0.83
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.
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.
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