FY2022 EPS Estimates for Ameriprise Financial, Inc. Lowered by Analyst (NYSE:AMP)

Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) – Equities research analysts at Jefferies Financial Group dropped their FY2022 EPS estimates for shares of Ameriprise Financial in a report issued on Tuesday, January 10th. Jefferies Financial Group analyst S. Kamath now forecasts that the financial services provider will post earnings of $24.59 per share for the year, down from their prior forecast of $24.68. The consensus estimate for Ameriprise Financial’s current full-year earnings is $24.56 per share. Jefferies Financial Group also issued estimates for Ameriprise Financial’s Q4 2022 earnings at $6.37 EPS, FY2025 earnings at $36.85 EPS and FY2026 earnings at $41.80 EPS.

Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.82 by $0.61. Ameriprise Financial had a net margin of 19.17% and a return on equity of 61.53%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the company earned $5.91 EPS. The firm’s revenue was up 20.3% on a year-over-year basis.

A number of other brokerages have also recently issued reports on AMP. Royal Bank of Canada upped their price objective on shares of Ameriprise Financial from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. Piper Sandler upped their price target on shares of Ameriprise Financial from $240.00 to $250.00 and gave the company an “underweight” rating in a report on Friday, October 7th. Keefe, Bruyette & Woods lowered shares of Ameriprise Financial from an “outperform” rating to a “market perform” rating and set a $325.00 price target for the company. in a report on Sunday, December 18th. The Goldman Sachs Group upped their price target on shares of Ameriprise Financial from $290.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, November 23rd. Finally, Morgan Stanley upped their price objective on shares of Ameriprise Financial from $340.00 to $345.00 and gave the stock an “equal weight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $332.70.

Ameriprise Financial Price Performance

Shares of Ameriprise Financial stock opened at $333.18 on Friday. Ameriprise Financial has a 52-week low of $219.99 and a 52-week high of $339.41. The stock has a market capitalization of $35.46 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a fifty day moving average of $320.51 and a 200-day moving average of $285.58. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.79 and a current ratio of 0.79.

Institutional Trading of Ameriprise Financial

Institutional investors have recently made changes to their positions in the stock. Gateway Investment Advisers LLC lifted its stake in shares of Ameriprise Financial by 75.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 2,337 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 1,007 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in Ameriprise Financial by 557.8% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 83,155 shares of the financial services provider’s stock worth $25,892,000 after acquiring an additional 70,513 shares during the period. Allworth Financial LP raised its stake in Ameriprise Financial by 265.6% during the 4th quarter. Allworth Financial LP now owns 797 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 579 shares during the period. First Hawaiian Bank raised its position in shares of Ameriprise Financial by 6.3% during the fourth quarter. First Hawaiian Bank now owns 4,620 shares of the financial services provider’s stock valued at $1,439,000 after buying an additional 275 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Ameriprise Financial by 254.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 168,558 shares of the financial services provider’s stock valued at $52,484,000 after buying an additional 121,009 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling

In related news, CFO Walter Stanley Berman sold 11,983 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $327.81, for a total value of $3,928,147.23. Following the completion of the transaction, the chief financial officer now directly owns 10,751 shares in the company, valued at approximately $3,524,285.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Dawn M. Brockman sold 410 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total transaction of $127,358.30. Following the sale, the insider now directly owns 875 shares of the company’s stock, valued at approximately $271,801.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Stanley Berman sold 11,983 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $327.81, for a total transaction of $3,928,147.23. Following the sale, the chief financial officer now directly owns 10,751 shares in the company, valued at $3,524,285.31. The disclosure for this sale can be found here. Insiders sold a total of 29,737 shares of company stock worth $9,796,822 in the last three months. 1.00% of the stock is owned by corporate insiders.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were paid a $1.25 dividend. The ex-dividend date was Friday, November 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.50%. Ameriprise Financial’s payout ratio is 20.85%.

Ameriprise Financial Company Profile

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Ameriprise Financial, Inc operates as a holding company. The firm provides financial planning, asset management and insurance services to individuals, businesses and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.