FY2024 EPS Estimates for Ameriprise Financial, Inc. (NYSE:AMP) Boosted by Zacks Research

Ameriprise Financial, Inc. (NYSE:AMP) – Analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Ameriprise Financial in a research report issued to clients and investors on Wednesday, August 14th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $34.74 per share for the year, up from their previous forecast of $34.50. The consensus estimate for Ameriprise Financial’s current full-year earnings is $34.77 per share. Zacks Research also issued estimates for Ameriprise Financial’s Q4 2024 earnings at $9.03 EPS, Q1 2025 earnings at $8.98 EPS, Q2 2025 earnings at $9.25 EPS, Q3 2025 earnings at $9.60 EPS and FY2025 earnings at $38.17 EPS.

AMP has been the subject of several other reports. Piper Sandler decreased their price objective on shares of Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. Keefe, Bruyette & Woods lowered their price target on shares of Ameriprise Financial from $470.00 to $460.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Ameriprise Financial from $487.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, UBS Group reduced their price target on Ameriprise Financial from $500.00 to $495.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $464.33.

Ameriprise Financial Stock Performance

AMP stock traded up $4.54 during trading on Friday, reaching $428.61. The company had a trading volume of 34,159 shares, compared to its average volume of 486,478. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.56 and a current ratio of 0.59. Ameriprise Financial has a twelve month low of $306.63 and a twelve month high of $449.94. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The firm has a 50-day simple moving average of $425.88 and a 200-day simple moving average of $420.59.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm earned $7.44 earnings per share. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year.

Ameriprise Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Monday, August 5th. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Institutional Investors Weigh In On Ameriprise Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMP. Mackenzie Financial Corp increased its stake in Ameriprise Financial by 0.6% during the 4th quarter. Mackenzie Financial Corp now owns 10,114 shares of the financial services provider’s stock worth $3,842,000 after buying an additional 62 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ameriprise Financial by 2.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,515 shares of the financial services provider’s stock worth $14,629,000 after buying an additional 888 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Ameriprise Financial by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,264 shares of the financial services provider’s stock worth $3,519,000 after buying an additional 662 shares during the period. Tufton Capital Management purchased a new position in shares of Ameriprise Financial during the fourth quarter worth approximately $201,000. Finally, Federated Hermes Inc. increased its holdings in shares of Ameriprise Financial by 6.0% in the 4th quarter. Federated Hermes Inc. now owns 304,953 shares of the financial services provider’s stock valued at $115,830,000 after acquiring an additional 17,307 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.