Ameriprise Financial (AMP) Scheduled to Post Earnings on Wednesday

Ameriprise Financial (NYSE:AMP) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $8.87 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $7.44 EPS. Ameriprise Financial’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts expect Ameriprise Financial to post $35 EPS for the current fiscal year and $39 EPS for the next fiscal year.

Ameriprise Financial Price Performance

Shares of AMP opened at $523.16 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $51.96 billion, a PE ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $524.89. The business has a 50-day simple moving average of $457.59 and a two-hundred day simple moving average of $437.23.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Insider Activity at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of Ameriprise Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMP has been the topic of several recent research reports. The Goldman Sachs Group downgraded shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Jefferies Financial Group lifted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler decreased their price objective on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a report on Friday, June 28th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley increased their price target on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and a consensus price target of $480.44.

About Ameriprise Financial

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.