Ameriprise Financial, Inc. (NYSE:AMP - Free Report) - Stock analysts at William Blair increased their Q2 2024 earnings per share (EPS) estimates for shares of Ameriprise Financial in a research note issued to investors on Tuesday, April 23rd. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings per share of $8.64 for the quarter, up from their previous estimate of $8.10. The consensus estimate for Ameriprise Financial's current full-year earnings is $34.58 per share. William Blair also issued estimates for Ameriprise Financial's Q3 2024 earnings at $8.92 EPS, Q4 2024 earnings at $9.21 EPS, FY2024 earnings at $35.15 EPS, Q1 2025 earnings at $9.55 EPS, Q2 2025 earnings at $9.55 EPS, Q3 2025 earnings at $9.67 EPS, Q4 2025 earnings at $9.94 EPS and FY2025 earnings at $38.70 EPS.
Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.15 billion. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $7.25 EPS.
A number of other brokerages have also recently issued reports on AMP. Morgan Stanley lifted their target price on Ameriprise Financial from $400.00 to $437.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Royal Bank of Canada lifted their target price on Ameriprise Financial from $470.00 to $480.00 and gave the stock an "outperform" rating in a report on Wednesday. UBS Group raised their target price on Ameriprise Financial from $440.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised their target price on Ameriprise Financial from $420.00 to $460.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group raised their target price on Ameriprise Financial from $437.00 to $488.00 and gave the stock a "buy" rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $449.57.
Read Our Latest Stock Report on Ameriprise Financial
Ameriprise Financial Price Performance
Shares of NYSE AMP traded down $1.10 during mid-day trading on Friday, reaching $409.81. The company had a trading volume of 454,209 shares, compared to its average volume of 503,375. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13. The stock has a market cap of $41.06 billion, a PE ratio of 13.98, a P/E/G ratio of 0.68 and a beta of 1.36. The company has a 50-day moving average price of $418.41 and a two-hundred day moving average price of $380.19. Ameriprise Financial has a 1-year low of $279.85 and a 1-year high of $440.67.
Ameriprise Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $1.48 per share. This is a boost from Ameriprise Financial's previous quarterly dividend of $1.35. The ex-dividend date is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. Ameriprise Financial's dividend payout ratio (DPR) is presently 18.38%.
Insider Activity at Ameriprise Financial
In related news, CFO Walter Stanley Berman sold 13,346 shares of Ameriprise Financial stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $387.81, for a total transaction of $5,175,712.26. Following the completion of the sale, the chief financial officer now owns 6,409 shares of the company's stock, valued at $2,485,474.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ameriprise Financial news, insider Gumer Alvero sold 1,652 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now directly owns 6,994 shares in the company, valued at $3,056,378. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the transaction, the chief financial officer now owns 6,409 shares in the company, valued at $2,485,474.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,472 shares of company stock valued at $31,779,805. Insiders own 0.73% of the company's stock.
Hedge Funds Weigh In On Ameriprise Financial
Institutional investors have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new position in Ameriprise Financial during the first quarter valued at about $28,000. Annapolis Financial Services LLC increased its stake in shares of Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider's stock worth $32,000 after purchasing an additional 65 shares during the period. Sound Income Strategies LLC bought a new position in shares of Ameriprise Financial in the first quarter worth about $32,000. OFI Invest Asset Management bought a new position in shares of Ameriprise Financial in the third quarter worth about $25,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Ameriprise Financial in the fourth quarter worth about $34,000. 83.95% of the stock is currently owned by institutional investors.
About Ameriprise Financial
(
Get Free Report)
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.
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