$3.12 Billion in Sales Expected for Ameriprise Financial, Inc. (AMP) This Quarter

Wall Street analysts forecast that Ameriprise Financial, Inc. (NYSE:AMP) will announce sales of $3.12 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Ameriprise Financial’s earnings. The highest sales estimate is $3.14 billion and the lowest is $3.10 billion. Ameriprise Financial reported sales of $2.90 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is scheduled to announce its next quarterly earnings report on Monday, April 23rd.

On average, analysts expect that Ameriprise Financial will report full-year sales of $3.12 billion for the current fiscal year, with estimates ranging from $12.39 billion to $14.24 billion. For the next year, analysts forecast that the firm will report sales of $13.63 billion per share, with estimates ranging from $12.56 billion to $14.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Ameriprise Financial.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.08 by ($1.90). Ameriprise Financial had a net margin of 12.31% and a return on equity of 31.03%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm earned $2.46 EPS. The company’s revenue was up 9.6% compared to the same quarter last year.

A number of research firms have recently commented on AMP. Royal Bank of Canada set a $155.00 price target on shares of Ameriprise Financial and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. ValuEngine lowered shares of Ameriprise Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Morgan Stanley boosted their price target on shares of Ameriprise Financial from $187.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. SunTrust Banks boosted their price target on shares of Ameriprise Financial to $180.00 and gave the company a “hold” rating in a research report on Friday, January 19th. Finally, Zacks Investment Research lowered shares of Ameriprise Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Ameriprise Financial presently has an average rating of “Buy” and an average price target of $164.98.

In related news, CEO James M. Cracchiolo sold 2,428 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $161.07, for a total value of $391,077.96. Following the completion of the transaction, the chief executive officer now directly owns 242,013 shares in the company, valued at $38,981,033.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman James M. Cracchiolo sold 42,228 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $159.33, for a total transaction of $6,728,187.24. Following the completion of the transaction, the chairman now owns 242,013 shares of the company’s stock, valued at $38,559,931.29. The disclosure for this sale can be found here. Insiders sold 94,284 shares of company stock valued at $15,690,258 over the last quarter. 1.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Montecito Bank & Trust boosted its position in Ameriprise Financial by 19.5% during the third quarter. Montecito Bank & Trust now owns 2,443 shares of the financial services provider’s stock valued at $363,000 after buying an additional 399 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Ameriprise Financial during the second quarter valued at about $25,127,000. Wasatch Advisors Inc. purchased a new stake in Ameriprise Financial during the second quarter valued at about $352,000. Legacy Private Trust Co. boosted its position in Ameriprise Financial by 12.1% during the fourth quarter. Legacy Private Trust Co. now owns 29,143 shares of the financial services provider’s stock valued at $4,939,000 after buying an additional 3,138 shares during the period. Finally, Gs Investments Inc. purchased a new stake in Ameriprise Financial during the second quarter valued at about $2,384,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Shares of Ameriprise Financial (NYSE AMP) opened at $167.50 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.85. Ameriprise Financial has a 1-year low of $118.84 and a 1-year high of $183.90. The stock has a market cap of $25,307.86, a price-to-earnings ratio of 17.74 and a beta of 1.85.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be given a $0.83 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.32 annualized dividend and a yield of 1.98%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 35.17%.

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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.

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

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