Ameriprise Financial, Inc. (AMP) Forecasted to Post FY2018 Earnings of $14.50 Per Share

Ameriprise Financial, Inc. (NYSE:AMP) – Stock analysts at William Blair increased their FY2018 earnings per share (EPS) estimates for shares of Ameriprise Financial in a research report issued on Wednesday. William Blair analyst A. Klauber now expects that the financial services provider will earn $14.50 per share for the year, up from their prior forecast of $13.45. William Blair also issued estimates for Ameriprise Financial’s FY2019 earnings at $17.00 EPS.

AMP has been the topic of a number of other reports. SunTrust Banks lifted their price objective on shares of Ameriprise Financial from $140.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Ameriprise Financial from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Wednesday, January 10th. Barclays reaffirmed an “equal weight” rating on shares of Ameriprise Financial in a report on Monday, October 2nd. Royal Bank of Canada set a $168.00 price objective on shares of Ameriprise Financial and gave the stock a “hold” rating in a report on Saturday, December 16th. Finally, Morgan Stanley lifted their price objective on shares of Ameriprise Financial from $152.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $161.48.

Ameriprise Financial (NYSE:AMP) traded up $1.24 on Monday, reaching $178.81. 1,246,700 shares of the company’s stock were exchanged, compared to its average volume of 1,042,138. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.82. The stock has a market cap of $26,451.36, a P/E ratio of 16.68 and a beta of 1.93. Ameriprise Financial has a 1 year low of $110.97 and a 1 year high of $183.90.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.33. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.97 billion. Ameriprise Financial had a net margin of 14.24% and a return on equity of 29.75%. The business’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 firm earned $2.29 EPS.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in Ameriprise Financial by 4.1% in the third quarter. Wells Fargo & Company MN now owns 2,195,435 shares of the financial services provider’s stock worth $326,044,000 after buying an additional 86,514 shares in the last quarter. Numeric Investors LLC raised its holdings in Ameriprise Financial by 1.6% in the second quarter. Numeric Investors LLC now owns 1,151,413 shares of the financial services provider’s stock worth $146,563,000 after purchasing an additional 17,700 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ameriprise Financial by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 974,272 shares of the financial services provider’s stock worth $124,020,000 after purchasing an additional 59,289 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Ameriprise Financial by 1.1% in the third quarter. APG Asset Management N.V. now owns 863,585 shares of the financial services provider’s stock worth $128,251,000 after acquiring an additional 9,700 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Ameriprise Financial by 0.4% in the third quarter. Legal & General Group Plc now owns 773,225 shares of the financial services provider’s stock worth $114,833,000 after acquiring an additional 2,716 shares during the last quarter. Hedge funds and other institutional investors own 81.39% of the company’s stock.

In related news, insider David Kent Stewart sold 4,817 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $171.51, for a total value of $826,163.67. Following the sale, the insider now directly owns 29,727 shares in the company, valued at approximately $5,098,477.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Edward Sweeney sold 7,329 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $169.47, for a total value of $1,242,045.63. Following the completion of the sale, the insider now owns 37,991 shares in the company, valued at $6,438,334.77. The disclosure for this sale can be found here. Insiders have sold a total of 72,466 shares of company stock worth $11,708,801 over the last quarter. Company insiders own 1.50% of the company’s stock.

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About Ameriprise Financial

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.

Earnings History and Estimates for Ameriprise Financial (NYSE:AMP)

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