$3.12 Earnings Per Share Expected for Ameriprise Financial, Inc. (AMP) This Quarter
Analysts forecast that Ameriprise Financial, Inc. (NYSE:AMP) will report earnings per share of $3.12 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ameriprise Financial’s earnings, with the lowest EPS estimate coming in at $3.05 and the highest estimate coming in at $3.22. Ameriprise Financial posted earnings of $2.73 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, January 24th.
According to Zacks, analysts expect that Ameriprise Financial will report full year earnings of $12.01 per share for the current fiscal year, with EPS estimates ranging from $11.84 to $12.11. For the next financial year, analysts expect that the business will report earnings of $13.17 per share, with EPS estimates ranging from $12.65 to $13.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Ameriprise Financial.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.79 by $0.33. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the firm earned $2.29 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year.
Several brokerages have commented on AMP. Zacks Investment Research downgraded shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Royal Bank of Canada set a $155.00 price target on shares of Ameriprise Financial and gave the company a “sector perform” rating in a report on Wednesday, October 25th. ValuEngine downgraded shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Morgan Stanley raised their price target on shares of Ameriprise Financial from $152.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 5th. Finally, Barclays reissued an “equal weight” rating on shares of Ameriprise Financial in a report on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $155.64.
Shares of Ameriprise Financial (NYSE:AMP) traded down $2.14 during trading hours on Friday, reaching $169.47. 597,566 shares of the company’s stock traded hands, compared to its average volume of 750,671. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.67 and a current ratio of 0.67. Ameriprise Financial has a 1 year low of $110.23 and a 1 year high of $173.62. The company has a market cap of $25,386.27, a P/E ratio of 15.81 and a beta of 1.93.
In related news, Chairman James M. Cracchiolo sold 42,228 shares of Ameriprise Financial stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $159.33, for a total value of $6,728,187.24. Following the transaction, the chairman now owns 242,013 shares in the company, valued at approximately $38,559,931.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David Kent Stewart sold 603 shares of Ameriprise Financial stock in a transaction on Monday, November 27th. The stock was sold at an average price of $160.72, for a total transaction of $96,914.16. Following the completion of the transaction, the insider now owns 20,081 shares in the company, valued at approximately $3,227,418.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,466 shares of company stock worth $11,708,801. Corporate insiders own 1.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. IHT Wealth Management LLC raised its position in Ameriprise Financial by 284.0% in the 2nd quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 230 shares during the period. Sun Life Financial INC raised its position in Ameriprise Financial by 10,100.0% in the 2nd quarter. Sun Life Financial INC now owns 1,122 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,111 shares during the period. Johnson Financial Group Inc. raised its position in Ameriprise Financial by 3.3% in the 2nd quarter. Johnson Financial Group Inc. now owns 1,181 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 38 shares during the period. D.A. Davidson & CO. raised its position in Ameriprise Financial by 60.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,374 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 517 shares during the period. Finally, Wesbanco Bank Inc. purchased a new position in Ameriprise Financial in the 3rd quarter worth $200,000. Institutional investors own 81.51% of the company’s stock.
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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