$3.54 Earnings Per Share Expected for Ameriprise Financial, Inc. (AMP) This Quarter

Wall Street brokerages expect Ameriprise Financial, Inc. (NYSE:AMP) to announce $3.54 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Ameriprise Financial’s earnings, with estimates ranging from $3.49 to $3.57. Ameriprise Financial posted earnings of $2.80 per share during the same quarter last year, which would suggest a positive year over year growth rate of 26.4%. The firm is expected to report its next earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that Ameriprise Financial will report full-year earnings of $14.44 per share for the current year, with EPS estimates ranging from $14.40 to $14.50. For the next fiscal year, analysts forecast that the company will report earnings of $15.82 per share, with EPS estimates ranging from $15.05 to $17.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Ameriprise Financial.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings data on Monday, April 23rd. The financial services provider reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.24. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. Ameriprise Financial had a return on equity of 33.67% and a net margin of 13.59%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.52 earnings per share.

A number of research analysts have recently commented on the company. Sandler O’Neill set a $165.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research note on Monday, February 12th. SunTrust Banks cut their target price on Ameriprise Financial to $150.00 and set a “hold” rating on the stock in a research note 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 research note on Thursday, March 22nd. Royal Bank of Canada set a $158.00 target price on Ameriprise Financial and gave the company a “hold” rating in a research note on Tuesday, April 24th. Finally, Credit Suisse Group assumed coverage on Ameriprise Financial in a research note on Wednesday, April 25th. They set a “neutral” rating and a $154.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ameriprise Financial currently has an average rating of “Hold” and an average price target of $167.22.

In related news, EVP Randy Kupper sold 4,381 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $159.61, for a total value of $699,251.41. Following the transaction, the executive vice president now owns 21,607 shares of the company’s stock, valued at $3,448,693.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James M. Cracchiolo acquired 7,400 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was purchased at an average cost of $136.04 per share, for a total transaction of $1,006,696.00. Following the purchase, the chief executive officer now owns 242,416 shares of the company’s stock, valued at $32,978,272.64. The disclosure for this purchase can be found here. 1.50% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC purchased a new position in shares of Ameriprise Financial during the fourth quarter worth about $101,000. Lee Financial Co boosted its holdings in Ameriprise Financial by 99.4% during the fourth quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after buying an additional 340 shares in the last quarter. Virtue Capital Management LLC bought a new stake in Ameriprise Financial during the fourth quarter worth approximately $128,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Ameriprise Financial by 150.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 780 shares of the financial services provider’s stock worth $132,000 after buying an additional 468 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Ameriprise Financial in the 4th quarter valued at approximately $133,000. 88.24% of the stock is currently owned by institutional investors.

Shares of Ameriprise Financial traded down $0.44, reaching $141.01, during mid-day trading on Tuesday, according to Marketbeat Ratings. 1,026,914 shares of the company’s stock traded hands, compared to its average volume of 1,332,679. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 11.49 and a beta of 1.86. Ameriprise Financial has a 12 month low of $118.84 and a 12 month high of $183.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.67 and a current ratio of 0.67.

The company also recently disclosed 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 of this dividend was Friday, May 4th. This represents a $3.60 annualized dividend and a yield of 2.55%. This is a boost from Ameriprise Financial’s previous quarterly dividend of $0.83. Ameriprise Financial’s dividend payout ratio is 29.34%.

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.

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

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