Ameriprise Financial (NYSE:AMP) Announces Quarterly Earnings Results
by Jessica Moore · The Cerbat GemAmeriprise Financial (NYSE:AMP – Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $11.26 EPS for the quarter, beating the consensus estimate of $10.60 by $0.66, FiscalAI reports. Ameriprise Financial had a net margin of 19.28% and a return on equity of 63.04%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.82 billion.
Ameriprise Financial Price Performance
Shares of NYSE AMP traded down $8.82 during mid-day trading on Thursday, reaching $459.69. 766,918 shares of the company were exchanged, compared to its average volume of 686,755. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $41.91 billion, a PE ratio of 12.64, a PEG ratio of 1.13 and a beta of 1.27. The company’s 50 day moving average price is $454.90 and its 200 day moving average price is $474.88. Ameriprise Financial has a 52 week low of $422.37 and a 52 week high of $550.18.
Ameriprise Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s payout ratio is currently 17.60%.
Analyst Ratings Changes
Several research analysts have commented on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Ameriprise Financial in a report on Friday, April 10th. They issued a “hold” rating for the company. Jefferies Financial Group lifted their price objective on shares of Ameriprise Financial from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ameriprise Financial in a report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $605.00 price objective (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Finally, Raymond James Financial set a $582.00 price objective on shares of Ameriprise Financial and gave the stock a “strong-buy” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $544.22.
Read Our Latest Stock Analysis on AMP
Insiders Place Their Bets
In other Ameriprise Financial news, CFO Walter Stanley Berman sold 7,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $544.22, for a total value of $3,809,540.00. Following the completion of the sale, the chief financial officer directly owned 5,609 shares of the company’s stock, valued at $3,052,529.98. The trade was a 55.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares of the company’s stock, valued at $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,658 shares of company stock valued at $8,998,675 over the last three months. Insiders own 0.60% of the company’s stock.
Institutional Trading of Ameriprise Financial
Several hedge funds have recently added to or reduced their stakes in AMP. AQR Capital Management LLC lifted its stake in Ameriprise Financial by 84.2% in the fourth quarter. AQR Capital Management LLC now owns 1,085,889 shares of the financial services provider’s stock worth $532,455,000 after purchasing an additional 496,319 shares during the last quarter. First Trust Advisors LP lifted its stake in Ameriprise Financial by 85.5% in the fourth quarter. First Trust Advisors LP now owns 828,437 shares of the financial services provider’s stock worth $406,216,000 after purchasing an additional 381,754 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Ameriprise Financial by 140.5% in the third quarter. Qube Research & Technologies Ltd now owns 471,867 shares of the financial services provider’s stock worth $231,805,000 after purchasing an additional 275,659 shares during the last quarter. Man Group plc increased its position in shares of Ameriprise Financial by 687.4% in the third quarter. Man Group plc now owns 276,822 shares of the financial services provider’s stock valued at $135,989,000 after acquiring an additional 241,665 shares during the period. Finally, Woodline Partners LP increased its position in shares of Ameriprise Financial by 1,776.6% in the third quarter. Woodline Partners LP now owns 193,285 shares of the financial services provider’s stock valued at $94,951,000 after acquiring an additional 182,985 shares during the period. 83.95% of the stock is owned by institutional investors.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.
Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.