William Blair Issues Pessimistic Forecast for AMP Earnings

Ameriprise Financial, Inc. (NYSE:AMP - Free Report) - William Blair decreased their Q3 2024 earnings per share (EPS) estimates for shares of Ameriprise Financial in a report released on Monday, October 14th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings of $8.80 per share for the quarter, down from their prior forecast of $8.92. The consensus estimate for Ameriprise Financial's current full-year earnings is $34.92 per share.

Ameriprise Financial (NYSE:AMP - Get Free Report) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. The business had revenue of $4.39 billion during the quarter, compared to analysts' expectations of $4.24 billion. During the same period in the prior year, the business earned $7.44 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an "underweight" rating for the company in a report on Friday, June 28th. UBS Group upped their target price on Ameriprise Financial from $490.00 to $555.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $500.00 to $535.00 and gave the stock an "outperform" rating in a research note on Friday, October 11th. Keefe, Bruyette & Woods upgraded Ameriprise Financial from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, Morgan Stanley upped their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the stock an "equal weight" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ameriprise Financial has an average rating of "Hold" and an average price target of $480.44.

Ameriprise Financial Stock Up 0.8 %

Shares of AMP stock traded up $4.04 during mid-day trading on Thursday, hitting $521.61. The stock had a trading volume of 384,490 shares, compared to its average volume of 471,891. Ameriprise Financial has a 12-month low of $306.63 and a 12-month high of $523.60. The firm has a market capitalization of $51.81 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. The firm's 50-day moving average is $455.23 and its two-hundred day moving average is $436.59. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Group LLC purchased a new stake in Ameriprise Financial in the first quarter valued at about $25,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Ameriprise Financial by 268.8% in the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider's stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of Ameriprise Financial in the second quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Ameriprise Financial in the first quarter worth about $28,000. Finally, Mascoma Wealth Management LLC raised its stake in shares of Ameriprise Financial by 153.8% in the second quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by company insiders.

Ameriprise Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, August 5th. Ameriprise Financial's dividend payout ratio (DPR) 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.