$2.79 EPS Expected for Ameriprise Financial Services, Inc. (AMP) This Quarter
Equities analysts expect Ameriprise Financial Services, Inc. (NYSE:AMP) to report earnings of $2.79 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ameriprise Financial Services’ earnings, with the highest EPS estimate coming in at $2.89 and the lowest estimate coming in at $2.68. Ameriprise Financial Services reported earnings of $2.29 per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.8%. The business is scheduled to issue its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Ameriprise Financial Services will report full-year earnings of $11.23 per share for the current financial year, with EPS estimates ranging from $11.12 to $11.38. For the next year, analysts anticipate that the company will report earnings of $12.59 per share, with EPS estimates ranging from $11.95 to $13.05. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Ameriprise Financial Services.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Ameriprise Financial Services had a return on equity of 26.54% and a net margin of 11.81%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.23 earnings per share.
AMP has been the topic of several research analyst reports. BidaskClub upgraded Ameriprise Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Citigroup Inc. set a $166.00 price objective on Ameriprise Financial Services and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $156.00 price objective for the company in a report on Thursday, July 27th. Royal Bank Of Canada set a $149.00 price target on Ameriprise Financial Services and gave the stock a “sector perform” rating in a report on Wednesday, July 26th. Finally, Morgan Stanley upped their price target on Ameriprise Financial Services from $148.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $146.87.
In other news, insider Charles Neal Maglaque sold 4,728 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $144.57, for a total value of $683,526.96. Following the sale, the insider now owns 24,901 shares in the company, valued at approximately $3,599,937.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Karen Wilson Thissen sold 425 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $145.15, for a total transaction of $61,688.75. Following the completion of the sale, the vice president now owns 10,956 shares in the company, valued at approximately $1,590,263.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,966 shares of company stock valued at $26,868,153 over the last three months. Corporate insiders own 1.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. IHT Wealth Management LLC raised its stake in Ameriprise Financial Services by 284.0% during the second quarter. IHT Wealth Management LLC now owns 311 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 230 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Ameriprise Financial Services by 17.5% in the second quarter. Parallel Advisors LLC now owns 777 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 116 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings in shares of Ameriprise Financial Services by 0.7% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 834 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of Ameriprise Financial Services in the first quarter valued at approximately $124,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Ameriprise Financial Services in the first quarter valued at approximately $125,000. Institutional investors and hedge funds own 79.55% of the company’s stock.
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Ameriprise Financial Services (NYSE AMP) traded up 0.46% during midday trading on Friday, hitting $132.77. The stock had a trading volume of 841,418 shares. The stock has a market cap of $19.91 billion, a PE ratio of 15.16 and a beta of 1.86. The company’s 50 day moving average price is $141.00 and its 200-day moving average price is $131.77. Ameriprise Financial Services has a 52-week low of $86.25 and a 52-week high of $149.99.
The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were paid a $0.83 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $3.32 annualized dividend and a yield of 2.50%. Ameriprise Financial Services’s payout ratio is currently 37.81%.
About Ameriprise Financial Services
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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