Ameriprise Financial (AMP) Expected to Announce Quarterly Sales of $3.12 Billion

Analysts expect that Ameriprise Financial (NYSE:AMP) will post $3.12 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ameriprise Financial’s earnings, with the highest sales estimate coming in at $3.14 billion and the lowest estimate coming in at $3.10 billion. Ameriprise Financial reported sales of $2.90 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.6%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, April 23rd.

On average, analysts expect that Ameriprise Financial will report full-year sales of $3.12 billion for the current financial year, with estimates ranging from $12.39 billion to $14.24 billion. For the next fiscal year, analysts expect that the company will post sales of $13.63 billion per share, with estimates ranging from $12.56 billion to $14.75 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Ameriprise Financial.

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Ameriprise Financial (NYSE:AMP) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year.

A number of brokerages have issued reports on AMP. Morgan Stanley increased their price target on Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. SunTrust Banks increased their price target on Ameriprise Financial to $180.00 and gave the company a “hold” rating in a research note on Friday, January 19th. Zacks Investment Research raised Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research note on Wednesday, January 10th. Royal Bank of Canada set a $168.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research note on Saturday, December 16th. Finally, Sandler O’Neill set a $165.00 price target on Ameriprise Financial and gave the company a “hold” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Ameriprise Financial has a consensus rating of “Hold” and a consensus target price of $171.56.

AMP traded up $0.98 during trading hours on Tuesday, hitting $147.94. The company’s stock had a trading volume of 1,074,526 shares, compared to its average volume of 998,764. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $21,648.36, a P/E ratio of 12.06 and a beta of 1.84. Ameriprise Financial has a fifty-two week low of $118.84 and a fifty-two week high of $183.90.

In other news, EVP Randy Kupper sold 4,381 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $159.61, for a total transaction of $699,251.41. Following the completion of the sale, the executive vice president now directly owns 21,607 shares of the company’s stock, valued at approximately $3,448,693.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Deirdre Davey Mcgraw sold 5,500 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $174.04, for a total value of $957,220.00. Following the sale, the executive vice president now directly owns 8,138 shares of the company’s stock, valued at $1,416,337.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,260 shares of company stock valued at $7,105,121. 1.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $101,000. Capital Analysts LLC boosted its stake in shares of Ameriprise Financial by 953.0% during the 4th quarter. Capital Analysts LLC now owns 5,981 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 5,413 shares in the last quarter. Lee Financial Co boosted its stake in shares of Ameriprise Financial by 99.4% during the 4th quarter. Lee Financial Co now owns 682 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 340 shares in the last quarter. Virtue Capital Management LLC bought a new stake in shares of Ameriprise Financial during the 4th quarter worth $128,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Ameriprise Financial by 150.0% in 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 during the period. 86.73% of the stock is owned by institutional investors and hedge funds.

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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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