Ameriprise Financial (AMP) Expected to Announce Quarterly Earnings on Thursday

Ameriprise Financial (NYSE:AMP) is projected to post its quarterly earnings results before the market opens on Thursday, April 24th. Analysts expect Ameriprise Financial to post earnings of $9.17 per share and revenue of $4.45 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, January 29th. The financial services provider reported $9.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.16 by $0.20. Ameriprise Financial had a return on equity of 69.35% and a net margin of 19.70%. On average, analysts expect Ameriprise Financial to post $39 EPS for the current fiscal year and $42 EPS for the next fiscal year.

Ameriprise Financial Stock Down 2.8 %

AMP stock opened at $463.11 on Thursday. Ameriprise Financial has a 52 week low of $385.74 and a 52 week high of $582.05. The business has a 50-day simple moving average of $496.97 and a 200 day simple moving average of $522.75. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.01. The company has a market cap of $44.51 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23.

Ameriprise Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 10th were given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Monday, February 10th. Ameriprise Financial’s payout ratio is presently 17.91%.

Wall Street Analysts Forecast Growth

AMP has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Ameriprise Financial from $507.00 to $542.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $625.00 price objective on shares of Ameriprise Financial in a research report on Monday, February 3rd. Keefe, Bruyette & Woods decreased their target price on Ameriprise Financial from $570.00 to $520.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. UBS Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $580.00 to $570.00 in a report on Monday, January 6th. Finally, Piper Sandler lifted their price target on shares of Ameriprise Financial from $415.00 to $442.00 and gave the company an “underweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $517.44.

Insider Transactions at Ameriprise Financial

In related news, insider Joseph Edward Sweeney sold 4,636 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $539.07, for a total value of $2,499,128.52. Following the transaction, the insider now owns 7,237 shares in the company, valued at $3,901,249.59. The trade was a 39.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William F. Truscott sold 6,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $540.29, for a total value of $3,241,740.00. Following the sale, the chief executive officer now owns 14,023 shares of the company’s stock, valued at approximately $7,576,486.67. The trade was a 29.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,636 shares of company stock worth $6,263,989. Company insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

A hedge fund recently raised its stake in Ameriprise Financial stock. Brighton Jones LLC increased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 777 shares of the financial services provider’s stock after acquiring an additional 50 shares during the quarter. Brighton Jones LLC’s holdings in Ameriprise Financial were worth $413,000 at the end of the most recent reporting period. Institutional investors own 83.95% 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.