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

Ameriprise Financial (NYSE:AMP) announced its earnings results on Wednesday. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.29, Briefing.com reports. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $7.25 earnings per share.

Ameriprise Financial Price Performance

Shares of NYSE AMP opened at $410.64 on Friday. Ameriprise Financial has a 1-year low of $279.85 and a 1-year high of $440.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. The business’s fifty day moving average price is $418.41 and its two-hundred day moving average price is $380.19. The firm has a market capitalization of $41.14 billion, a PE ratio of 13.98, a P/E/G ratio of 0.68 and a beta of 1.36.

Ameriprise Financial Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMP shares. Raymond James started coverage on Ameriprise Financial in a report on Thursday, March 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler raised their price objective on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Finally, Morgan Stanley lifted their price target on shares of Ameriprise Financial from $400.00 to $437.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One investment 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $449.57.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 5,146 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $389.47, for a total value of $2,004,212.62. Following the completion of the transaction, the insider now owns 9,421 shares of the company’s stock, valued at $3,669,196.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Joseph Edward Sweeney sold 5,146 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $389.47, for a total value of $2,004,212.62. Following the completion of the transaction, the insider now owns 9,421 shares of the company’s stock, valued at $3,669,196.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James M. Cracchiolo sold 2,493 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $401.11, for a total value of $999,967.23. Following the transaction, the chief executive officer now directly owns 196,598 shares of the company’s stock, valued at $78,857,423.78. The disclosure for this sale can be found here. Insiders have sold 79,472 shares of company stock valued at $31,779,805 over the last three months. Company 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.