$2.95 Billion in Sales Expected for Ameriprise Financial, Inc. (AMP) This Quarter
Equities analysts expect Ameriprise Financial, Inc. (NYSE:AMP) to post $2.95 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ameriprise Financial’s earnings, with the highest sales estimate coming in at $2.97 billion and the lowest estimate coming in at $2.93 billion. Ameriprise Financial posted sales of $2.87 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.8%. The business is expected to report its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Ameriprise Financial will report full-year sales of $2.95 billion for the current year, with estimates ranging from $11.7 billion to $12.75 billion. For the next fiscal year, analysts forecast that the company will report sales of $12.63 billion per share, with estimates ranging from $11.92 billion to $13.51 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ameriprise Financial.
Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Monday, April 24th. The financial services provider reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.18. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Ameriprise Financial had a return on equity of 23.18% and a net margin of 11.23%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $2.17 earnings per share.
Several equities analysts recently weighed in on the stock. William Blair assumed coverage on shares of Ameriprise Financial in a report on Thursday, March 2nd. They set an “outperform” rating and a $138.80 target price on the stock. SunTrust Banks, Inc. restated a “hold” rating and set a $127.00 target price (up previously from $124.00) on shares of Ameriprise Financial in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Barclays PLC restated an “equal weight” rating and set a $130.00 target price (up previously from $127.00) on shares of Ameriprise Financial in a report on Tuesday, April 25th. Finally, Citigroup Inc restated a “buy” rating on shares of Ameriprise Financial in a report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $129.07.
In related news, CEO William F. Truscott sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $134.63, for a total transaction of $1,077,040.00. Following the completion of the sale, the chief executive officer now owns 10,370 shares of the company’s stock, valued at approximately $1,396,113.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kelli A. Hunter sold 943 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $128.80, for a total transaction of $121,458.40. Following the sale, the vice president now directly owns 39,919 shares of the company’s stock, valued at approximately $5,141,567.20. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in AMP. Pointe Capital Management LLC acquired a new stake in shares of Ameriprise Financial during the first quarter worth $470,000. Public Employees Retirement System of Ohio increased its stake in shares of Ameriprise Financial by 20.9% in the first quarter. Public Employees Retirement System of Ohio now owns 86,189 shares of the financial services provider’s stock worth $11,177,000 after buying an additional 14,903 shares in the last quarter. Achmea Investment Management B.V. acquired a new stake in shares of Ameriprise Financial during the first quarter worth $239,000. Cambridge Trust Co. acquired a new stake in shares of Ameriprise Financial during the first quarter worth $292,000. Finally, Bank of Nova Scotia increased its stake in shares of Ameriprise Financial by 5,014.0% in the first quarter. Bank of Nova Scotia now owns 185,485 shares of the financial services provider’s stock worth $24,054,000 after buying an additional 181,858 shares in the last quarter. 78.42% of the stock is owned by institutional investors and hedge funds.
Shares of Ameriprise Financial (NYSE:AMP) traded down 0.175% during mid-day trading on Friday, hitting $122.395. The stock had a trading volume of 496,111 shares. The company’s 50 day moving average price is $127.64 and its 200 day moving average price is $121.62. The stock has a market cap of $18.66 billion, a P/E ratio of 14.897 and a beta of 1.77. Ameriprise Financial has a 12-month low of $84.92 and a 12-month high of $135.20.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, May 4th. This is an increase from Ameriprise Financial’s previous quarterly dividend of $0.75. Ameriprise Financial’s dividend payout ratio is currently 38.36%.
Ameriprise Financial Company Profile
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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