Ameriprise Financial (NYSE:AMP) Announces Quarterly Earnings Results

Ameriprise Financial (NYSE:AMP) issued its quarterly earnings results on Wednesday. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.16 by $0.20, Zacks reports. Ameriprise Financial had a net margin of 15.99% and a return on equity of 68.52%.

Ameriprise Financial Price Performance

NYSE AMP traded up $3.44 during trading hours on Wednesday, reaching $575.28. The company’s stock had a trading volume of 797,600 shares, compared to its average volume of 477,389. The firm has a market capitalization of $55.81 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 0.85 and a beta of 1.36. The company’s 50-day moving average is $548.34 and its two-hundred day moving average is $495.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. Ameriprise Financial has a 1-year low of $378.05 and a 1-year high of $577.89.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.03%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

Several research firms recently issued reports on AMP. UBS Group downgraded Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $580.00 to $570.00 in a research report on Monday, January 6th. Morgan Stanley increased their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $565.00 to $560.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $625.00 price target on shares of Ameriprise Financial in a report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus target price of $503.22.

Insider Activity

In other news, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $549.68, for a total value of $5,900,814.80. Following the sale, the insider now directly owns 5,811 shares of the company’s stock, valued at $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $564.16, for a total value of $4,882,804.80. Following the completion of the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $3,615,701.44. The trade was a 57.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,715 shares of company stock worth $11,983,436 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

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.