Q2 2024 EPS Estimates for Ameriprise Financial, Inc. Raised by William Blair (NYSE:AMP)

Ameriprise Financial, Inc. (NYSE:AMP) – Research analysts at William Blair lifted their Q2 2024 EPS estimates for shares of Ameriprise Financial in a report released on Tuesday, April 23rd. William Blair analyst J. Schmitt now anticipates 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 announced its quarterly earnings data 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. The company had revenue of $4.15 billion for 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 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 brokerages have also recently issued reports on AMP. The Goldman Sachs Group lifted their price objective on shares of Ameriprise Financial from $437.00 to $488.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Piper Sandler raised their target price on shares of Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a report on Friday, April 5th. UBS Group raised their target price on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada raised their target price on shares of Ameriprise Financial from $470.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Evercore ISI raised their target price on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Stock Performance

Shares of AMP opened at $410.64 on Friday. The firm’s 50 day moving average is $418.41 and its 200-day moving average is $380.19. The stock has a market capitalization of $41.14 billion, a P/E ratio of 13.98, a P/E/G ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.56 and a quick ratio of 0.56. Ameriprise Financial has a 12-month low of $279.85 and a 12-month high of $440.67.

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 issued a dividend of $1.48 per share. This is a boost from Ameriprise Financial’s previous quarterly dividend of $1.35. This represents a $5.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 3rd. Ameriprise Financial’s dividend payout ratio (DPR) is currently 18.38%.

Insider Buying and Selling

In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at $5,411,864.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ameriprise Financial news, CEO William F. Truscott sold 8,000 shares of Ameriprise Financial stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $412.05, for a total value of $3,296,400.00. Following the completion of the sale, the chief executive officer now directly owns 13,134 shares in the company, valued at $5,411,864.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Edward Sweeney sold 5,146 shares of Ameriprise Financial stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $389.47, for a total transaction of $2,004,212.62. Following the completion of the sale, the insider now owns 9,421 shares of the company’s stock, valued at $3,669,196.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,472 shares of company stock worth $31,779,805. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ameriprise Financial

A number of institutional investors have recently modified their holdings of the company. SYSTM Wealth Solutions LLC raised its position in shares of Ameriprise Financial by 12.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 15,329 shares of the financial services provider’s stock valued at $6,721,000 after purchasing an additional 1,646 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $1,363,000. Equitable Trust Co. raised its position in shares of Ameriprise Financial by 5.9% in the first quarter. Equitable Trust Co. now owns 14,292 shares of the financial services provider’s stock valued at $6,266,000 after purchasing an additional 800 shares during the period. Oldfather Financial Services LLC bought a new position in shares of Ameriprise Financial in the first quarter valued at approximately $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ameriprise Financial by 52.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,826 shares of the financial services provider’s stock valued at $25,792,000 after purchasing an additional 20,311 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.