Brokerages Anticipate Ameriprise Financial Services, Inc. (AMP) Will Announce Earnings of $3.12 Per Share
Wall Street analysts forecast that Ameriprise Financial Services, Inc. (NYSE:AMP) will announce $3.12 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Ameriprise Financial Services’ earnings, with the lowest EPS estimate coming in at $3.05 and the highest estimate coming in at $3.22. Ameriprise Financial Services posted earnings per share of $2.73 during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The company is expected to issue its next quarterly earnings report on Wednesday, February 7th.
On average, analysts expect that Ameriprise Financial Services will report full year earnings of $12.01 per share for the current fiscal year, with EPS estimates ranging from $11.84 to $12.11. For the next fiscal year, analysts expect that the firm will post earnings of $13.17 per share, with EPS estimates ranging from $12.65 to $13.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Ameriprise Financial Services.
Ameriprise Financial Services (NYSE:AMP) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $3.12 EPS for the quarter, topping the consensus estimate of $2.79 by $0.33. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Ameriprise Financial Services had a net margin of 14.24% and a return on equity of 29.75%. Ameriprise Financial Services’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share.
Shares of Ameriprise Financial Services (AMP) traded up $0.82 on Wednesday, reaching $168.60. The company had a trading volume of 831,800 shares, compared to its average volume of 1,027,096. The stock has a market cap of $24,819.69, a PE ratio of 14.27 and a beta of 1.93. Ameriprise Financial Services has a 1 year low of $109.19 and a 1 year high of $170.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.67 and a quick ratio of 0.67.
The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were paid a $0.83 dividend. The ex-dividend date was Friday, November 3rd. This represents a $3.32 annualized dividend and a dividend yield of 1.97%. Ameriprise Financial Services’s payout ratio is 30.97%.
In related news, COO Charles Neal Maglaque sold 1,754 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $161.01, for a total value of $282,411.54. Following the completion of the sale, the chief operating officer now directly owns 14,697 shares in the company, valued at approximately $2,366,363.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Colin Moore sold 4,285 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $161.09, for a total value of $690,270.65. Following the completion of the sale, the executive vice president now owns 73,690 shares of the company’s stock, valued at $11,870,722.10. The disclosure for this sale can be found here. In the last three months, insiders sold 67,649 shares of company stock valued at $10,882,637. 1.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Ameriprise Financial Services by 2.7% during the second quarter. Vanguard Group Inc. now owns 12,744,678 shares of the financial services provider’s stock worth $1,622,270,000 after buying an additional 340,206 shares during the last quarter. LSV Asset Management raised its stake in shares of Ameriprise Financial Services by 4.4% in the second quarter. LSV Asset Management now owns 2,739,924 shares of the financial services provider’s stock valued at $348,764,000 after purchasing an additional 116,706 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Ameriprise Financial Services by 4.1% in the third quarter. Wells Fargo & Company MN now owns 2,195,435 shares of the financial services provider’s stock valued at $326,044,000 after purchasing an additional 86,514 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Ameriprise Financial Services by 21.6% in the second quarter. American Century Companies Inc. now owns 1,905,436 shares of the financial services provider’s stock valued at $242,543,000 after purchasing an additional 338,452 shares in the last quarter. Finally, Numeric Investors LLC raised its stake in shares of Ameriprise Financial Services by 1.6% in the second quarter. Numeric Investors LLC now owns 1,151,413 shares of the financial services provider’s stock valued at $146,563,000 after purchasing an additional 17,700 shares in the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.
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Ameriprise Financial Services 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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