Analysts Anticipate Ameriprise Financial Services, Inc. (AMP) to Announce $2.62 Earnings Per Share
Equities research analysts expect Ameriprise Financial Services, Inc. (NYSE:AMP) to post earnings per share of $2.62 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ameriprise Financial Services’ earnings. The highest EPS estimate is $2.70 and the lowest is $2.56. Ameriprise Financial Services posted earnings per share of $2.23 in the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The company is scheduled to issue its next quarterly earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that Ameriprise Financial Services will report full year earnings of $10.80 per share for the current fiscal year, with EPS estimates ranging from $10.72 to $10.93. For the next year, analysts anticipate that the company will post earnings of $12.11 per share, with EPS estimates ranging from $11.55 to $12.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Ameriprise Financial Services.
Ameriprise Financial Services (NYSE:AMP) last announced its earnings results on Monday, April 24th. The financial services provider reported $2.70 EPS for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.18. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.89 billion. Ameriprise Financial Services had a net margin of 11.44% and a return on equity of 24.75%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 earnings per share.
Several equities analysts have recently issued reports on the company. William Blair assumed coverage on Ameriprise Financial Services in a research note on Thursday, March 2nd. They issued an “outperform” rating and a $138.80 price objective for the company. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $127.00 price objective (up previously from $124.00) on shares of Ameriprise Financial Services in a research note on Wednesday, April 26th. Zacks Investment Research cut Ameriprise Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Barclays PLC reiterated an “equal weight” rating and issued a $130.00 price objective (up previously from $127.00) on shares of Ameriprise Financial Services in a research note on Tuesday, April 25th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Ameriprise Financial Services in a research note on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Ameriprise Financial Services has an average rating of “Hold” and an average target price of $129.07.
In other news, VP Kelli A. Hunter sold 943 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $128.80, for a total value of $121,458.40. Following the transaction, the vice president now owns 39,919 shares of the company’s stock, valued at $5,141,567.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Ameriprise Financial Services by 0.5% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 828 shares of the financial services provider’s stock worth $108,000 after buying an additional 4 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in Ameriprise Financial Services by 2.4% in the first quarter. Dubuque Bank & Trust Co. now owns 954 shares of the financial services provider’s stock worth $124,000 after buying an additional 22 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Ameriprise Financial Services during the first quarter worth approximately $124,000. State of Alaska Department of Revenue purchased a new stake in Ameriprise Financial Services during the first quarter worth approximately $125,000. Finally, Meeder Asset Management Inc. purchased a new stake in Ameriprise Financial Services during the first quarter worth approximately $149,000. Institutional investors own 80.82% of the company’s stock.
Shares of Ameriprise Financial Services (NYSE AMP) traded up 1.27% during trading on Monday, reaching $132.01. 781,871 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $125.82 and a 200 day moving average price of $123.25. The company has a market capitalization of $20.13 billion, a P/E ratio of 16.07 and a beta of 1.86. Ameriprise Financial Services has a 12-month low of $84.92 and a 12-month high of $135.20.
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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