Q3 2023 EPS Estimates for Ameriprise Financial, Inc. Reduced by William Blair (NYSE:AMP)

Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) – William Blair cut their Q3 2023 earnings per share (EPS) estimates for Ameriprise Financial in a research note issued to investors on Monday, March 13th. William Blair analyst J. Schmitt now expects that the financial services provider will earn $8.11 per share for the quarter, down from their prior estimate of $8.16. The consensus estimate for Ameriprise Financial’s current full-year earnings is $30.69 per share. William Blair also issued estimates for Ameriprise Financial’s Q4 2023 earnings at $8.37 EPS.

AMP has been the subject of a number of other research reports. Credit Suisse Group upped their price target on Ameriprise Financial from $382.00 to $401.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. StockNews.com started coverage on Ameriprise Financial in a research note on Thursday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Ameriprise Financial from $350.00 to $375.00 and gave the company a “market perform” rating in a research report on Tuesday, January 31st. UBS Group lifted their price target on shares of Ameriprise Financial from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, January 9th. Finally, Morgan Stanley lifted their target price on shares of Ameriprise Financial from $340.00 to $345.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.18.

Ameriprise Financial Stock Down 4.8 %

Shares of AMP stock opened at $283.54 on Wednesday. The stock’s fifty day moving average price is $336.47 and its 200 day moving average price is $310.16. Ameriprise Financial has a 1-year low of $219.99 and a 1-year high of $357.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $30.17 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.55 and a beta of 1.49.

Ameriprise Financial (NYSE:AMP – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.59. Ameriprise Financial had a return on equity of 70.64% and a net margin of 17.91%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $6.15 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raleigh Capital Management Inc. increased its holdings in Ameriprise Financial by 145.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 81 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 48 shares during the last quarter. OLD Mission Capital LLC bought a new stake in Ameriprise Financial in the fourth quarter valued at approximately $25,000. Dark Forest Capital Management LP purchased a new position in shares of Ameriprise Financial during the fourth quarter valued at approximately $27,000. Financial Freedom LLC purchased a new stake in Ameriprise Financial in the fourth quarter worth $27,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the fourth quarter worth $31,000. Institutional investors own 81.66% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joseph Edward Sweeney sold 6,390 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the transaction, the insider now owns 10,955 shares in the company, valued at approximately $3,838,084.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Joseph Edward Sweeney sold 6,390 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $350.35, for a total transaction of $2,238,736.50. Following the completion of the transaction, the insider now directly owns 10,955 shares of the company’s stock, valued at approximately $3,838,084.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Truscott sold 11,480 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $355.33, for a total transaction of $4,079,188.40. Following the completion of the sale, the chief executive officer now owns 17,489 shares of the company’s stock, valued at approximately $6,214,366.37. The disclosure for this sale can be found here. Insiders sold a total of 75,738 shares of company stock worth $26,606,004 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 10th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.00 dividend on an annualized basis and a yield of 1.76%. Ameriprise Financial’s payout ratio is 22.27%.

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.