Q1 2024 Earnings Estimate for Ameriprise Financial, Inc. (NYSE:AMP) Issued By William Blair

Ameriprise Financial, Inc. (NYSE:AMP) – Research analysts at William Blair dropped their Q1 2024 earnings estimates for shares of Ameriprise Financial in a report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now anticipates that the financial services provider will post earnings per share of $8.09 for the quarter, down from their prior forecast of $8.64. The consensus estimate for Ameriprise Financial’s current full-year earnings is $34.43 per share. William Blair also issued estimates for Ameriprise Financial’s Q2 2024 earnings at $8.10 EPS, Q3 2024 earnings at $8.64 EPS, Q4 2024 earnings at $8.88 EPS, FY2024 earnings at $33.70 EPS and FY2025 earnings at $37.60 EPS.

Several other research firms have also recently issued reports on AMP. Raymond James initiated coverage on shares of Ameriprise Financial in a research report on Thursday, March 21st. They set a “market perform” rating for the company. Evercore ISI lifted their price objective on shares of Ameriprise Financial from $400.00 to $445.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price target on shares of 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 lifted their price target on shares of Ameriprise Financial from $410.00 to $420.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, UBS Group lifted their price target on shares of Ameriprise Financial from $440.00 to $445.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $441.00.

Ameriprise Financial Price Performance

Ameriprise Financial stock opened at $410.84 on Monday. The stock has a market cap of $41.16 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The company has a fifty day simple moving average of $415.72 and a 200-day simple moving average of $376.51. 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 1.17.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $7.75 EPS for the quarter, beating the consensus estimate of $7.67 by $0.08. Ameriprise Financial had a net margin of 16.27% and a return on equity of 77.39%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the company posted $6.94 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year.

Ameriprise Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Friday, February 9th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.31%. Ameriprise Financial’s dividend payout ratio is presently 22.78%.

Insider Buying and Selling at Ameriprise Financial

In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Dawn M. Brockman sold 224 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $434.13, for a total transaction of $97,245.12. Following the transaction, the senior vice president now directly owns 1,288 shares in the company, valued at $559,159.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 1,652 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $437.00, for a total transaction of $721,924.00. Following the transaction, the insider now owns 6,994 shares in the company, valued at $3,056,378. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,161 shares of company stock worth $35,560,647. 0.96% of the stock is owned by company insiders.

Institutional Trading of Ameriprise Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in Ameriprise Financial by 9.0% during the fourth quarter. Morgan Stanley now owns 2,375,581 shares of the financial services provider’s stock worth $739,686,000 after buying an additional 195,537 shares in the last quarter. Viking Global Investors LP lifted its holdings in shares of Ameriprise Financial by 10.4% in the fourth quarter. Viking Global Investors LP now owns 1,914,374 shares of the financial services provider’s stock valued at $727,137,000 after purchasing an additional 180,356 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Ameriprise Financial by 29.7% in the second quarter. Nuveen Asset Management LLC now owns 1,673,748 shares of the financial services provider’s stock valued at $555,952,000 after purchasing an additional 382,811 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Ameriprise Financial by 106,308.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,587,613 shares of the financial services provider’s stock valued at $494,335,000 after purchasing an additional 1,586,121 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ameriprise Financial in the fourth quarter valued at about $514,539,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.