Brokerages forecast that Ameriprise Financial, Inc. (NYSE:AMP) will announce earnings of $3.52 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Ameriprise Financial’s earnings, with the lowest EPS estimate coming in at $3.40 and the highest estimate coming in at $3.64. Ameriprise Financial reported earnings per share of $2.70 in the same quarter last year, which suggests a positive year over year growth rate of 30.4%. The firm is scheduled to announce its next quarterly earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Ameriprise Financial will report full year earnings of $14.43 per share for the current financial year, with EPS estimates ranging from $14.15 to $14.64. For the next year, analysts forecast that the firm will post earnings of $15.79 per share, with EPS estimates ranging from $14.80 to $17.00. Zacks’ EPS averages are an average based on a survey of research analysts that cover Ameriprise Financial.
Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($1.90). The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS.
A number of research analysts recently issued reports on the stock. Sandler O’Neill set a $165.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Monday, February 12th. SunTrust Banks boosted their price objective on shares of Ameriprise Financial to $180.00 and gave the company a “hold” rating in a report on Friday, January 19th. Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the company a “hold” rating in a report on Saturday, December 16th. Zacks Investment Research cut shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, ValuEngine cut shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $164.98.
In other news, insider David Kent Stewart sold 603 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $160.72, for a total value of $96,914.16. Following the completion of the transaction, the insider now owns 20,081 shares in the company, valued at $3,227,418.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Truscott sold 31,379 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the completion of the transaction, the chief executive officer now owns 67,058 shares of the company’s stock, valued at approximately $11,643,951.12. The disclosure for this sale can be found here. Insiders sold 49,628 shares of company stock valued at $8,570,993 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AMP. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Ameriprise Financial by 42.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,000 shares of the financial services provider’s stock worth $1,695,000 after purchasing an additional 3,000 shares during the last quarter. Slow Capital Inc. acquired a new position in Ameriprise Financial during the fourth quarter worth $136,000. Banco de Sabadell S.A acquired a new position in Ameriprise Financial during the fourth quarter worth $1,410,000. Sterling Capital Management LLC boosted its holdings in Ameriprise Financial by 118.5% during the fourth quarter. Sterling Capital Management LLC now owns 59,187 shares of the financial services provider’s stock worth $10,030,000 after purchasing an additional 32,100 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new position in Ameriprise Financial during the fourth quarter worth $414,000. Institutional investors own 80.51% of the company’s stock.
Shares of Ameriprise Financial (NYSE AMP) traded up $0.81 during midday trading on Monday, reaching $159.81. 769,700 shares of the company were exchanged, compared to its average volume of 1,211,764. The firm has a market capitalization of $23,640.69, a PE ratio of 16.93 and a beta of 1.85. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.67 and a current ratio of 0.67. Ameriprise Financial has a 52-week low of $118.84 and a 52-week high of $183.90.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, February 15th. Ameriprise Financial’s dividend payout ratio (DPR) is presently 35.17%.
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About Ameriprise Financial
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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