William Blair Equities Analysts Decrease Earnings Estimates for Ameriprise Financial, Inc. (NYSE:AMP)

Ameriprise Financial, Inc. (NYSE:AMP) – Investment analysts at William Blair reduced their Q3 2024 EPS estimates for shares of Ameriprise Financial in a note issued to investors on Monday, October 14th. William Blair analyst J. Schmitt now expects that the financial services provider will post earnings of $8.80 per share for the quarter, down from their previous estimate of $8.92. The consensus estimate for Ameriprise Financial’s current full-year earnings is $34.92 per share.

A number of other equities research analysts also recently issued reports on AMP. Piper Sandler cut their target price 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. Jefferies Financial Group increased their price objective on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley lowered their target price on Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lowered Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $473.56.

Ameriprise Financial Trading Up 1.2 %

NYSE:AMP opened at $517.46 on Thursday. The stock has a market cap of $51.40 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35. Ameriprise Financial has a fifty-two week low of $306.63 and a fifty-two week high of $518.05. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50-day moving average is $452.81 and its two-hundred day moving average is $435.99.

Ameriprise Financial (NYSE:AMP) last issued its quarterly earnings results 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. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.24 billion. Ameriprise Financial had a return on equity of 73.83% and a net margin of 18.64%. Ameriprise Financial’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.44 earnings per share.

Ameriprise Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $1.48 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $5.92 annualized dividend and a yield of 1.14%. Ameriprise Financial’s dividend payout ratio (DPR) is currently 20.15%.

Insiders Place Their Bets

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Ameriprise Financial

Large investors have recently made changes to their positions in the business. Empirical Finance LLC lifted its holdings in shares of Ameriprise Financial by 3.0% during the first quarter. Empirical Finance LLC now owns 3,896 shares of the financial services provider’s stock worth $1,708,000 after buying an additional 113 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Ameriprise Financial during the 4th quarter valued at $775,000. State Board of Administration of Florida Retirement System boosted its holdings in Ameriprise Financial by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 118,211 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 8,693 shares during the period. BDF Gestion acquired a new stake in Ameriprise Financial in the 2nd quarter worth $2,836,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Ameriprise Financial by 12.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,797 shares of the financial services provider’s stock worth $8,242,000 after purchasing an additional 2,139 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

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.