Equities research analysts expect Ameriprise Financial, Inc. (NYSE:AMP) to announce sales of $3.09 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ameriprise Financial’s earnings. The highest sales estimate is $3.15 billion and the lowest is $3.03 billion. Ameriprise Financial posted sales of $2.99 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The firm is scheduled to announce its next earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Ameriprise Financial will report full year sales of $12.90 billion for the current fiscal year, with estimates ranging from $12.24 billion to $13.75 billion. For the next financial year, analysts forecast that the firm will post sales of $13.99 billion per share, with estimates ranging from $13.42 billion to $14.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ameriprise Financial.
Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Monday, April 23rd. The financial services provider reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.24. Ameriprise Financial had a return on equity of 33.67% and a net margin of 13.59%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the firm posted $2.52 earnings per share. Ameriprise Financial’s revenue was up 8.7% compared to the same quarter last year.
A number of analysts have commented on the company. Sandler O’Neill set a $165.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a report on Monday, February 12th. SunTrust Banks reduced their target price on Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a report on Wednesday, April 25th. They noted that the move was a valuation call. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a report on Thursday, March 22nd. Royal Bank of Canada set a $158.00 target price on Ameriprise Financial and gave the stock a “hold” rating in a report on Tuesday, April 24th. Finally, Credit Suisse Group began coverage on Ameriprise Financial in a report on Wednesday, April 25th. They issued a “neutral” rating and a $154.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $167.22.
Ameriprise Financial traded down $0.44, reaching $141.01, on Thursday, Marketbeat reports. 1,026,914 shares of the company traded hands, compared to its average volume of 1,332,679. Ameriprise Financial has a one year low of $118.84 and a one year high of $183.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. The firm has a market cap of $20.39 billion, a PE ratio of 11.49 and a beta of 1.86.
The business also recently declared a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Monday, May 7th were paid a $0.90 dividend. The ex-dividend date was Friday, May 4th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $0.83. This represents a $3.60 dividend on an annualized basis and a yield of 2.55%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 29.34%.
In other Ameriprise Financial news, EVP Randy Kupper sold 4,381 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $159.61, for a total value of $699,251.41. Following the completion of the sale, the executive vice president now owns 21,607 shares in the company, valued at approximately $3,448,693.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Walter Stanley Berman acquired 3,728 shares of the business’s stock in a transaction on Wednesday, May 2nd. The stock was acquired at an average price of $134.12 per share, with a total value of $499,999.36. Following the acquisition, the vice president now owns 25,076 shares in the company, valued at approximately $3,363,193.12. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in AMP. JPMorgan Chase & Co. lifted its stake in Ameriprise Financial by 0.3% in the first quarter. JPMorgan Chase & Co. now owns 4,249,940 shares of the financial services provider’s stock valued at $628,736,000 after acquiring an additional 14,054 shares during the last quarter. LSV Asset Management increased its holdings in shares of Ameriprise Financial by 5.0% in the 1st quarter. LSV Asset Management now owns 2,933,767 shares of the financial services provider’s stock worth $434,021,000 after purchasing an additional 139,093 shares in the last quarter. Aristotle Capital Management LLC increased its holdings in shares of Ameriprise Financial by 5.7% in the 1st quarter. Aristotle Capital Management LLC now owns 2,702,111 shares of the financial services provider’s stock worth $399,750,000 after purchasing an additional 146,097 shares in the last quarter. Lyrical Asset Management LP increased its holdings in shares of Ameriprise Financial by 2.3% in the 4th quarter. Lyrical Asset Management LP now owns 2,108,953 shares of the financial services provider’s stock worth $357,404,000 after purchasing an additional 47,250 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Ameriprise Financial by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,539,034 shares of the financial services provider’s stock worth $260,259,000 after purchasing an additional 40,199 shares in the last quarter. Institutional investors own 88.24% of the company’s stock.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through Advice & Wealth Management, Asset Management, Annuities, and Protection segments. The Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.