Ameriprise Q1 Earnings Miss, but Dividend Boosted (AMP)

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Financial services provider Ameriprise Financial, Inc. ( AMP ) late Monday posted lower-than-expected first quarter earnings results but lifted its quarterly dividend payout by 25%.

The New York-based company reported first quarter net income of $335 million, or $1.45 per share, compared with $344 million, or $1.33 per share, in the year-ago period. Excluding items, earnings from continuing operations were $1.06 per share.

Revenue rose 1% from last year to $2.56 billion.

On average, Wall Street analysts expected a much higher profit of $1.36 per share, on larger revenue of $2.6 billion.

On a positive note, AMP said its board of directors approved a 25% raise in its quarterly dividend payout, from 28 cents to 35 cents per share.

Ameriprise shares closed down 61 cents, or -1.1%, in Monday trading.

The Bottom Line
Shares of Ameriprise Financial ( AMP ) will now have a 2.65% dividend yield, based on the higher dividend payout and today's closing stock price of $52.84. The stock has technical support in the $46-$48 price area. If the shares can firm up, we see overhead resistance around the $56-$58 price levels.

Ameriprise Financial, Inc. ( AMP ) is not recommended at this time, holding a DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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