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

Ameriprise Financial, Inc. (NYSE:AMP) – Analysts at William Blair increased their Q2 2024 earnings estimates for shares of Ameriprise Financial in a note issued to investors on Tuesday, April 23rd. William Blair analyst J. Schmitt now forecasts that the financial services provider will post earnings of $8.64 per share for the quarter, up from their previous forecast of $8.10. The consensus estimate for Ameriprise Financial’s current full-year earnings is $34.58 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.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $8.39 EPS for the quarter, beating the consensus estimate of $8.10 by $0.29. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Ameriprise Financial had a net margin of 19.42% and a return on equity of 75.97%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.25 EPS.

Several other analysts have also recently commented on the stock. UBS Group upped their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler boosted their price target on shares of Ameriprise Financial from $360.00 to $392.00 and gave the company an “underweight” rating in a report on Friday, April 5th. The Goldman Sachs Group boosted their price target on shares of Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ameriprise Financial currently has an average rating of “Hold” and an average price target of $449.57.

Ameriprise Financial Stock Performance

Shares of Ameriprise Financial stock opened at $409.81 on Friday. The firm has a fifty day moving average of $418.65 and a two-hundred day moving average of $380.77. The stock has a market capitalization of $41.06 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.68 and a beta of 1.36. Ameriprise Financial has a 52 week low of $279.85 and a 52 week high of $440.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.56 and a current ratio of 0.56.

Institutional Investors Weigh In On Ameriprise Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venture Visionary Partners LLC lifted its position in Ameriprise Financial by 2.9% during the 4th quarter. Venture Visionary Partners LLC now owns 14,874 shares of the financial services provider’s stock worth $5,650,000 after buying an additional 416 shares in the last quarter. 17 Capital Partners LLC bought a new stake in Ameriprise Financial during the 4th quarter worth about $2,078,000. Cerity Partners LLC lifted its position in Ameriprise Financial by 280.6% during the 4th quarter. Cerity Partners LLC now owns 30,502 shares of the financial services provider’s stock worth $11,585,000 after buying an additional 22,487 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Ameriprise Financial during the 3rd quarter worth about $1,150,000. Finally, Harbor Investment Advisory LLC lifted its position in Ameriprise Financial by 75.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 335 shares of the financial services provider’s stock worth $127,000 after buying an additional 144 shares in the last quarter. 83.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robert Francis Sharpe, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $386.60, for a total value of $1,546,400.00. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $4,832,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,472 shares of company stock valued at $31,779,805. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, May 3rd. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 dividend on an annualized basis and a yield of 1.44%. Ameriprise Financial’s dividend payout ratio is presently 20.15%.

About Ameriprise Financial

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.