Ameriprise Financial, Inc. Expected to Post Q2 2022 Earnings of $5.93 Per Share (NYSE:AMP)

Ameriprise Financial, Inc. (NYSE:AMPGet Rating) – Equities researchers at William Blair lowered their Q2 2022 EPS estimates for Ameriprise Financial in a research note issued to investors on Tuesday, April 26th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $5.93 per share for the quarter, down from their previous estimate of $6.12. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Ameriprise Financial’s Q3 2023 earnings at $8.28 EPS, Q4 2023 earnings at $8.57 EPS and FY2023 earnings at $31.75 EPS.

Ameriprise Financial (NYSE:AMPGet Rating) last issued its quarterly earnings results on Monday, April 25th. The financial services provider reported $5.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.88 by $0.10. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.72 billion. Ameriprise Financial had a return on equity of 48.36% and a net margin of 20.55%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $5.43 earnings per share.

Other research analysts have also issued reports about the company. UBS Group cut their price target on Ameriprise Financial from $360.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group increased their price target on shares of Ameriprise Financial from $325.00 to $350.00 and gave the company a “buy” rating in a report on Monday, April 4th. Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating and set a $316.00 price target on the stock. in a research report on Wednesday, April 6th. Evercore ISI raised shares of Ameriprise Financial from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $305.00 to $362.00 in a research report on Wednesday, January 5th. Finally, Morgan Stanley reduced their target price on shares of Ameriprise Financial from $335.00 to $330.00 and set an “equal weight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Ameriprise Financial has a consensus rating of “Buy” and an average price target of $338.09.

Shares of NYSE:AMP opened at $272.91 on Friday. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 11.83 and a beta of 1.51. The business has a 50 day moving average price of $291.06 and a 200 day moving average price of $299.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. Ameriprise Financial has a twelve month low of $236.35 and a twelve month high of $332.37.

A number of institutional investors have recently added to or reduced their stakes in AMP. Mascoma Wealth Management LLC bought a new position in shares of Ameriprise Financial in the 4th quarter worth $29,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Ameriprise Financial in the 4th quarter valued at about $32,000. Equitec Proprietary Markets LLC bought a new position in Ameriprise Financial during the fourth quarter worth about $33,000. Confluence Wealth Services Inc. bought a new stake in shares of Ameriprise Financial in the fourth quarter worth about $39,000. Finally, KRS Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth about $39,000. Institutional investors own 80.53% of the company’s stock.

In other news, CFO Walter Stanley Berman sold 5,000 shares of the business’s stock in a transaction on Monday, February 7th. The stock was sold at an average price of $311.00, for a total transaction of $1,555,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William F. Truscott sold 16,000 shares of the company’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $305.09, for a total value of $4,881,440.00. The disclosure for this sale can be found here. Insiders sold a total of 103,106 shares of company stock worth $32,258,469 over the last three months. 1.00% of the stock is owned by company insiders.

Ameriprise Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, January 26th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Shareholders of record on Monday, May 9th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 6th. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.13. This represents a $5.00 dividend on an annualized basis and a yield of 1.83%. Ameriprise Financial’s payout ratio is 19.59%.

About Ameriprise Financial (Get Rating)

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 four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

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Earnings History and Estimates for Ameriprise Financial (NYSE:AMP)

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