Q2 2024 EPS Estimates for Ameriprise Financial, Inc. (NYSE:AMP) Increased by Analyst

Ameriprise Financial, Inc. (NYSE:AMP) – Research analysts at William Blair lifted their Q2 2024 earnings estimates for Ameriprise Financial in a report released 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 $34.65 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.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley raised their target price on shares of Ameriprise Financial from $400.00 to $437.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group lifted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods lifted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler lifted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a research report on Friday, April 5th. Finally, Evercore ISI lifted their price target on shares of Ameriprise Financial from $400.00 to $445.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $449.57.

Ameriprise Financial Price Performance

AMP opened at $410.01 on Friday. The company’s 50 day simple moving average is $418.65 and its 200 day simple moving average is $381.14. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56. Ameriprise Financial has a 1 year low of $279.85 and a 1 year high of $440.67. The stock has a market capitalization of $41.08 billion, a PE ratio of 13.96, a P/E/G ratio of 0.70 and a beta of 1.36.

Ameriprise Financial (NYSE:AMP) last released its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the company earned $7.25 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis.

Ameriprise Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. Ameriprise Financial’s payout ratio is 18.38%.

Insider Buying and Selling

In related news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Dawn M. Brockman sold 224 shares of Ameriprise Financial stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the sale, the senior vice president now owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $412.05, for a total transaction of $3,296,400.00. Following the completion of the sale, the chief executive officer now owns 13,134 shares of the company’s stock, valued at approximately $5,411,864.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,472 shares of company stock worth $31,779,805. Insiders own 0.73% of the company’s stock.

Institutional Trading of Ameriprise Financial

Several institutional investors have recently added to or reduced their stakes in AMP. Norges Bank bought a new stake in Ameriprise Financial during the fourth quarter valued at $514,539,000. First Trust Advisors LP boosted its holdings in shares of Ameriprise Financial by 1,001.2% during the fourth quarter. First Trust Advisors LP now owns 564,110 shares of the financial services provider’s stock valued at $214,266,000 after acquiring an additional 512,884 shares during the period. TD Asset Management Inc boosted its holdings in shares of Ameriprise Financial by 151.5% during the fourth quarter. TD Asset Management Inc now owns 595,644 shares of the financial services provider’s stock valued at $226,243,000 after acquiring an additional 358,780 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of Ameriprise Financial by 104.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 382,232 shares of the financial services provider’s stock valued at $145,183,000 after acquiring an additional 195,475 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Ameriprise Financial by 63.9% during the third quarter. Barclays PLC now owns 350,391 shares of the financial services provider’s stock valued at $115,517,000 after acquiring an additional 136,621 shares during the period. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.