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

Ameriprise Financial (NYSE:AMP) announced its quarterly earnings results 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 company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business earned $7.25 earnings per share. Ameriprise Financial’s revenue was up 10.8% compared to the same quarter last year.

Ameriprise Financial Price Performance

Shares of AMP traded down $1.95 during mid-day trading on Thursday, hitting $410.91. 584,472 shares of the company traded hands, compared to its average volume of 503,359. Ameriprise Financial has a one year low of $279.85 and a one year 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 business has a 50-day moving average of $418.15 and a 200 day moving average of $379.98. The stock has a market capitalization of $41.17 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.67 and a beta of 1.36.

Ameriprise Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.44%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio is currently 18.38%.

Insider Activity

In other news, CEO William F. Truscott sold 9,689 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $390.22, for a total transaction of $3,780,841.58. Following the sale, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ameriprise Financial news, CEO William F. Truscott sold 9,689 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 12,126 shares of the company’s stock, valued at $4,731,807.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 5,146 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the transaction, the insider now directly owns 9,421 shares in the company, valued at $3,669,196.87. The disclosure for this sale can be found here. Insiders have sold 89,161 shares of company stock valued at $35,560,647 over the last three months. 0.73% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group raised their price objective on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised their target price on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Piper Sandler raised their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods raised their target price on shares of Ameriprise Financial from $420.00 to $460.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Ameriprise Financial currently has a consensus rating of “Hold” and a consensus price target of $449.57.

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.