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

Ameriprise Financial (NYSE:AMP) released its earnings results on Wednesday. The financial services provider reported $8.39 earnings per share 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 business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the business earned $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis.

Ameriprise Financial Stock Performance

Shares of AMP stock opened at $410.64 on Friday. The company has a market cap of $41.14 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. Ameriprise Financial has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $418.41 and a 200-day moving average of $380.19.

Ameriprise Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be given a dividend of $1.48 per share. This is an increase from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. This represents a $5.92 annualized dividend and a dividend yield of 1.44%. Ameriprise Financial’s dividend payout ratio (DPR) is 18.38%.

Analyst Upgrades and Downgrades

Several research firms have commented on AMP. Raymond James began coverage on shares of Ameriprise Financial in a report on Thursday, March 21st. They issued a “market perform” rating on the stock. 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 report on Wednesday. Evercore ISI upped their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research note on Friday, April 5th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $449.57.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total value of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Ameriprise Financial news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $386.60, for a total transaction of $1,546,400.00. Following the transaction, the director now directly owns 12,500 shares in the company, valued at approximately $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William F. Truscott sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the transaction, the chief executive officer now owns 13,134 shares in the company, valued at $5,411,864.70. The disclosure for this sale can be found here. Insiders have sold a total of 79,472 shares of company stock worth $31,779,805 in the last ninety days. Corporate insiders own 0.73% 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.