Ameriprise Financial (AMP) Set to Announce Quarterly Earnings on Monday

Ameriprise Financial (NYSE:AMP) is scheduled to announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $8.14 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $7.75 earnings per share for the quarter, beating the consensus estimate of $7.67 by $0.08. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.90 billion. Ameriprise Financial had a return on equity of 77.39% and a net margin of 16.27%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $6.94 earnings per share. On average, analysts expect Ameriprise Financial to post $34 EPS for the current fiscal year and $37 EPS for the next fiscal year.

Ameriprise Financial Price Performance

AMP stock opened at $413.70 on Monday. The company has a market capitalization of $41.45 billion, a P/E ratio of 17.45, a PEG ratio of 0.68 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 business has a 50 day simple moving average of $414.84 and a 200-day simple moving average of $375.37. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.17.

Ameriprise Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Friday, February 9th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, February 8th. Ameriprise Financial’s payout ratio is currently 22.78%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AMP shares. Morgan Stanley increased 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. Keefe, Bruyette & Woods increased their price target on Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Piper Sandler increased their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. The Goldman Sachs Group increased their price target on Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, Evercore ISI increased their price target on Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $441.00.

Insiders Place Their Bets

In other Ameriprise Financial news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $390.22, for a total value of $3,780,841.58. Following the completion of the transaction, the chief executive officer now owns 12,126 shares of the company’s stock, valued at approximately $4,731,807.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,161 shares of company stock worth $35,560,647. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMP. Fairfield Bush & CO. purchased a new position in shares of Ameriprise Financial in the first quarter valued at $53,000. Synovus Financial Corp increased its position in Ameriprise Financial by 2.9% during the 1st quarter. Synovus Financial Corp now owns 1,961 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 56 shares in the last quarter. Aviva PLC increased its position in Ameriprise Financial by 23.7% during the 1st quarter. Aviva PLC now owns 45,024 shares of the financial services provider’s stock worth $13,523,000 after purchasing an additional 8,625 shares in the last quarter. Prudential PLC purchased a new stake in Ameriprise Financial during the 1st quarter worth about $724,000. Finally, Cetera Investment Advisers increased its position in Ameriprise Financial by 62.5% during the 1st quarter. Cetera Investment Advisers now owns 2,900 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.