Ameriprise Financial (NYSE:AMP) Releases Earnings Results, Beats Expectations By $0.20 EPS

Ameriprise Financial (NYSE:AMP - Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate 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 Trading Up 0.6 %

Shares of NYSE:AMP traded up $3.44 on Wednesday, hitting $575.28. 797,600 shares of the company's stock were exchanged, compared to its average volume of 477,389. The stock has a market capitalization of $55.81 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 0.85 and a beta of 1.36. Ameriprise Financial has a 12 month low of $378.05 and a 12 month high of $577.89. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.65. The business's 50 day simple moving average is $548.34 and its two-hundred day simple moving average is $495.95.

Ameriprise Financial Announces Dividend

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 paid 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 is 22.73%.

Insider Transactions at Ameriprise Financial

In related news, CFO Walter Stanley Berman sold 8,655 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now directly owns 6,409 shares of the company's stock, valued at $3,615,701.44. This represents a 57.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Edward Sweeney sold 10,735 shares of Ameriprise Financial stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $549.68, for a total transaction of $5,900,814.80. Following the transaction, the insider now directly owns 5,811 shares in the company, valued at approximately $3,194,190.48. The trade was a 64.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,715 shares of company stock worth $11,983,436. Insiders own 0.73% of the company's stock.

Analysts Set New Price Targets

AMP has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $440.00 to $502.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. UBS Group lowered Ameriprise Financial from a "buy" rating to a "neutral" rating and dropped their price target for the company from $580.00 to $570.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods decreased their price objective on Ameriprise Financial from $565.00 to $560.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $625.00 price target on shares of Ameriprise Financial in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and a consensus price target of $503.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.