Ameriprise Financial, Inc. (NYSE:AMP) Forecasted to Earn Q3 2024 Earnings of $8.79 Per Share

Ameriprise Financial, Inc. (NYSE:AMP) – Equities research analysts at Zacks Research lowered their Q3 2024 EPS estimates for shares of Ameriprise Financial in a research report issued to clients and investors on Wednesday, August 14th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $8.79 per share for the quarter, down from their prior estimate of $8.82. The consensus estimate for Ameriprise Financial’s current full-year earnings is $34.77 per share. Zacks Research also issued estimates for Ameriprise Financial’s Q1 2026 earnings at $9.95 EPS, Q2 2026 earnings at $10.24 EPS and FY2026 earnings at $41.24 EPS.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $7.44 EPS. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year.

A number of other research analysts have also commented on the stock. Argus boosted their price target on shares of Ameriprise Financial from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley reduced their price target on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler reduced their price target on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $464.33.

Ameriprise Financial Stock Up 1.7 %

Ameriprise Financial stock opened at $431.39 on Monday. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $449.94. The firm has a market capitalization of $42.85 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.73 and a beta of 1.37. The company has a current ratio of 0.59, a quick ratio of 0.56 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $425.98 and a 200 day simple moving average of $421.29.

Institutional Trading of Ameriprise Financial

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its stake in Ameriprise Financial by 0.6% in the fourth quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 62 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Ameriprise Financial by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,264 shares of the financial services provider’s stock worth $3,519,000 after purchasing an additional 662 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in Ameriprise Financial by 5.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 656 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 32 shares during the last quarter. HTLF Bank bought a new stake in Ameriprise Financial in the fourth quarter worth $237,000. Finally, Greenleaf Trust lifted its stake in Ameriprise Financial by 2.1% in the fourth quarter. Greenleaf Trust now owns 4,858 shares of the financial services provider’s stock worth $1,845,000 after purchasing an additional 98 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

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.