Analysts predict that Ameriprise Financial, Inc. (NYSE:AMP) will report $3.12 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued 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 posted sales of $2.90 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.6%. The business is expected to issue its next quarterly earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Ameriprise Financial will report full year sales of $3.12 billion for the current year, with estimates ranging from $12.39 billion to $14.24 billion. For the next fiscal year, analysts anticipate that the business 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 sell-side analysts that follow Ameriprise Financial.
Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($1.90). Ameriprise Financial had a return on equity of 31.03% and a net margin of 12.31%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the business posted $2.46 EPS. Ameriprise Financial’s revenue was up 9.6% on a year-over-year basis.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada set a $155.00 target price on Ameriprise Financial and gave the stock a “sector perform” rating in a research report on Wednesday, October 25th. ValuEngine downgraded Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Sandler O’Neill set a $165.00 price target on Ameriprise Financial and gave the stock a “hold” rating in a research note on Monday, February 12th. Morgan Stanley raised their price target on Ameriprise Financial from $187.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, SunTrust Banks raised their price target on Ameriprise Financial to $180.00 and gave the stock a “hold” rating in a research note on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $164.98.
In related news, CEO William F. Truscott sold 31,379 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $173.64, for a total transaction of $5,448,649.56. Following the transaction, the chief executive officer now owns 67,058 shares in the company, valued at approximately $11,643,951.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deirdre Davey Mcgraw sold 5,500 shares of Ameriprise Financial stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $174.04, for a total value of $957,220.00. Following the completion of the transaction, the executive vice president now owns 8,138 shares in the company, valued at $1,416,337.52. The disclosure for this sale can be found here. Insiders have sold a total of 49,628 shares of company stock worth $8,570,993 in the last 90 days. 1.50% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Montecito Bank & Trust grew its stake in shares of Ameriprise Financial by 19.5% in the 3rd quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 399 shares during the last quarter. Legacy Private Trust Co. grew its stake in shares of Ameriprise Financial by 12.1% in the 4th quarter. Legacy Private Trust Co. now owns 29,143 shares of the financial services provider’s stock valued at $4,939,000 after purchasing an additional 3,138 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Ameriprise Financial by 630.0% in the 4th quarter. Acadian Asset Management LLC now owns 108,421 shares of the financial services provider’s stock valued at $18,374,000 after purchasing an additional 93,568 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Ameriprise Financial by 16.4% in the 3rd quarter. Prudential Financial Inc. now owns 570,473 shares of the financial services provider’s stock valued at $84,721,000 after purchasing an additional 80,220 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in shares of Ameriprise Financial by 20.4% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 301,093 shares of the financial services provider’s stock valued at $44,715,000 after purchasing an additional 50,939 shares during the last quarter. Institutional investors own 80.51% of the company’s stock.
Shares of Ameriprise Financial (NYSE AMP) opened at $158.76 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.67 and a current ratio of 0.67. Ameriprise Financial has a 12-month low of $118.84 and a 12-month high of $183.90. The firm has a market capitalization of $23,640.69, a PE ratio of 16.82 and a beta of 1.85.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be paid a dividend of $0.83 per share. The ex-dividend date is Thursday, February 15th. This represents a $3.32 dividend on an annualized basis and a yield of 2.09%. Ameriprise Financial’s dividend payout ratio is presently 35.17%.
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About Ameriprise Financial
Ameriprise Financial, Inc is a financial services company that offers financial solutions to individual and institutional clients. The Company operates in five segments: Advice & Wealth Management; Asset Management; Annuities; Protection, and Corporate & Other. The Company uses Ameriprise Financial as its enterprise brand, as well as the name of its advisor network and certain of its retail products and services.
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