Wall Street brokerages expect Ameriprise Financial, Inc. (NYSE:AMP) to report $3.10 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ameriprise Financial’s earnings. The lowest EPS estimate is $3.00 and the highest is $3.22. Ameriprise Financial posted earnings of $2.73 per share in the same quarter last year, which would indicate a positive year over year growth rate of 13.6%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, January 24th.
According to Zacks, analysts expect that Ameriprise Financial will report full-year earnings of $11.97 per share for the current year, with EPS estimates ranging from $11.84 to $12.10. For the next year, analysts anticipate that the business will report earnings of $14.01 per share, with EPS estimates ranging from $13.42 to $14.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ameriprise Financial.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.79 by $0.33. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial had a return on equity of 29.75% and a net margin of 14.24%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 EPS.
Several research analysts have recently weighed in on the company. SunTrust Banks upped their target price on Ameriprise Financial from $9.64 to $180.00 and gave the stock a “hold” rating in a research note on Friday. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research note on Wednesday, January 10th. Royal Bank of Canada set a $168.00 price objective on Ameriprise Financial and gave the company a “hold” rating in a research note on Saturday, December 16th. ValuEngine downgraded Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Morgan Stanley increased their price objective on Ameriprise Financial from $152.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $161.48.
Shares of Ameriprise Financial (NYSE:AMP) traded up $1.24 during mid-day trading on Tuesday, hitting $178.81. The stock had a trading volume of 1,216,239 shares, compared to its average volume of 869,099. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26,450.00, a P/E ratio of 16.70 and a beta of 1.93. Ameriprise Financial has a twelve month low of $110.97 and a twelve month high of $183.90.
In related news, insider John Robert Woerner sold 9,022 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $160.91, for a total value of $1,451,730.02. Following the completion of the transaction, the insider now directly owns 43,167 shares of the company’s stock, valued at approximately $6,946,001.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman James M. Cracchiolo sold 42,228 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the completion of the transaction, the chairman now directly owns 242,013 shares of the company’s stock, valued at $38,559,931.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,466 shares of company stock valued at $11,708,801. 1.50% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. TRUE Private Wealth Advisors acquired a new stake in shares of Ameriprise Financial in the 4th quarter worth $465,000. State of Alaska Department of Revenue grew its holdings in shares of Ameriprise Financial by 140.8% during the 4th quarter. State of Alaska Department of Revenue now owns 17,444 shares of the financial services provider’s stock worth $2,954,000 after purchasing an additional 10,200 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Ameriprise Financial by 630.0% during the 4th quarter. Acadian Asset Management LLC now owns 108,421 shares of the financial services provider’s stock worth $18,374,000 after purchasing an additional 93,568 shares during the period. Westpac Banking Corp grew its holdings in shares of Ameriprise Financial by 74.4% during the 4th quarter. Westpac Banking Corp now owns 17,321 shares of the financial services provider’s stock worth $2,362,000 after purchasing an additional 7,390 shares during the period. Finally, Charter Trust Co. grew its holdings in shares of Ameriprise Financial by 56.5% during the 4th quarter. Charter Trust Co. now owns 2,339 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 844 shares during the period. 81.57% of the stock is owned by institutional investors and hedge funds.
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Ameriprise Financial Company Profile
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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