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

Ameriprise Financial, Inc. (NYSE:AMP) – Equities researchers at William Blair lifted their Q2 2024 earnings per share estimates for shares of Ameriprise Financial in a note issued to investors on Tuesday, April 23rd. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings per share of $8.64 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.

A number of other research analysts have also recently issued reports on AMP. Raymond James started coverage on Ameriprise Financial in a research note on Thursday, March 21st. They set a “market perform” rating for the company. Piper Sandler boosted their price target on Ameriprise Financial from $360.00 to $392.00 and gave the stock an “underweight” rating in a research note on Friday, April 5th. Royal Bank of Canada upped their price objective on Ameriprise Financial from $470.00 to $480.00 and gave the company an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price target on Ameriprise Financial from $420.00 to $460.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group boosted their price target on Ameriprise Financial from $437.00 to $488.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ameriprise Financial presently has an average rating of “Hold” and an average target price of $449.57.

Ameriprise Financial Stock Down 0.5 %

Shares of NYSE:AMP opened at $410.64 on Friday. The stock has a fifty day simple moving average of $418.41 and a two-hundred day simple moving average of $380.19. The stock has a market capitalization of $41.14 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.68 and a beta of 1.36. Ameriprise Financial has a 12-month low of $279.85 and a 12-month high of $440.67. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.13.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $8.39 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.29. Ameriprise Financial had a return on equity of 75.97% and a net margin of 19.42%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company posted $7.25 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis.

Institutional Investors Weigh In On Ameriprise Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMP. OFI Invest Asset Management purchased a new stake in Ameriprise Financial during the third quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth approximately $28,000. Carmel Capital Partners LLC purchased a new stake in shares of Ameriprise Financial in the third quarter worth approximately $30,000. Sound Income Strategies LLC purchased a new stake in shares of Ameriprise Financial in the first quarter worth approximately $32,000. Finally, Annapolis Financial Services LLC raised its holdings in shares of Ameriprise Financial by 928.6% in the first quarter. Annapolis Financial Services LLC now owns 72 shares of the financial services provider’s stock worth $32,000 after buying an additional 65 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total value of $97,245.12. Following the completion of the transaction, the senior vice president now owns 1,288 shares of the company’s stock, valued at $559,159.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Dawn M. Brockman sold 224 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $434.13, for a total transaction of $97,245.12. Following the completion of the transaction, the senior vice president now directly owns 1,288 shares of the company’s stock, valued at $559,159.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Walter Stanley Berman sold 13,346 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $387.81, for a total value of $5,175,712.26. Following the sale, the chief financial officer now owns 6,409 shares in the company, valued at $2,485,474.29. The disclosure for this sale can be found here. Insiders sold a total of 79,472 shares of company stock valued at $31,779,805 over the last 90 days. Company insiders own 0.73% of the company’s stock.

Ameriprise Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $1.48 dividend. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.44%. Ameriprise Financial’s dividend payout ratio is 18.38%.

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.