Ameriprise Financial, Inc. (NYSE:AMP – Get Rating) – Stock analysts at William Blair lifted their Q1 2023 earnings estimates for Ameriprise Financial in a research report issued to clients and investors on Monday, March 13th. William Blair analyst J. Schmitt now anticipates that the financial services provider will earn $7.30 per share for the quarter, up from their prior estimate of $7.23. 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 Q2 2023 earnings at $7.74 EPS.
Ameriprise Financial (NYSE:AMP – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $6.94 EPS for the quarter, beating analysts’ consensus estimates of $6.35 by $0.59. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.46 billion. Ameriprise Financial had a net margin of 17.91% and a return on equity of 70.64%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.15 earnings per share.
Ameriprise Financial Stock Performance
NYSE:AMP opened at $297.71 on Tuesday. Ameriprise Financial has a 12-month low of $219.99 and a 12-month high of $357.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $31.68 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.55 and a beta of 1.49. The firm has a 50-day moving average price of $337.06 and a 200 day moving average price of $310.35.
Ameriprise Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 10th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, February 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.68%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 22.27%.
In other news, CEO William F. Truscott sold 11,483 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $347.69, for a total transaction of $3,992,524.27. Following the sale, the chief executive officer now directly owns 16,262 shares of the company’s stock, valued at $5,654,134.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dawn M. Brockman sold 410 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $310.63, for a total value of $127,358.30. Following the transaction, the insider now directly owns 875 shares in the company, valued at $271,801.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William F. Truscott sold 11,483 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $347.69, for a total transaction of $3,992,524.27. Following the completion of the transaction, the chief executive officer now owns 16,262 shares in the company, valued at $5,654,134.78. The disclosure for this sale can be found here. Insiders have sold 75,738 shares of company stock valued at $26,606,004 over the last three months. 1.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Ameriprise Financial
Several hedge funds have recently bought and sold shares of AMP. Raleigh Capital Management Inc. raised its holdings in shares of Ameriprise Financial by 145.5% during the fourth 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 period. OLD Mission Capital LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $25,000. Dark Forest Capital Management LP acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $27,000. Financial Freedom LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $27,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial during the fourth quarter worth $31,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.
About Ameriprise Financial
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.
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