Ameriprise Financial, Inc. (NYSE:AMP) Expected to Announce Quarterly Sales of $3.37 Billion

Equities analysts expect Ameriprise Financial, Inc. (NYSE:AMP) to report sales of $3.37 billion for the current quarter, Zacks reports. Two analysts have made estimates for Ameriprise Financial’s earnings, with estimates ranging from $3.36 billion to $3.37 billion. Ameriprise Financial posted sales of $2.77 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 21.7%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 4th.

On average, analysts expect that Ameriprise Financial will report full-year sales of $13.60 billion for the current fiscal year, with estimates ranging from $13.49 billion to $13.71 billion. For the next fiscal year, analysts forecast that the company will post sales of $14.85 billion, with estimates ranging from $14.33 billion to $15.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ameriprise Financial.

Ameriprise Financial (NYSE:AMP) last issued its earnings results on Sunday, April 25th. The financial services provider reported $5.43 earnings per share for the quarter, beating analysts’ consensus estimates of $4.73 by $0.70. Ameriprise Financial had a net margin of 15.16% and a return on equity of 33.79%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the business posted $5.41 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis.

AMP has been the subject of several research analyst reports. Morgan Stanley lifted their price target on shares of Ameriprise Financial from $220.00 to $236.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup boosted their target price on shares of Ameriprise Financial from $245.00 to $265.00 in a research note on Wednesday, March 31st. Royal Bank of Canada upped their price target on shares of Ameriprise Financial from $270.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Barclays upped their price target on shares of Ameriprise Financial from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, April 19th. Finally, Piper Sandler upped their price target on shares of Ameriprise Financial from $215.00 to $221.00 and gave the company an “overweight” rating in a research note on Wednesday, January 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ameriprise Financial presently has an average rating of “Buy” and an average target price of $221.82.

Shares of NYSE:AMP traded down $0.55 during mid-day trading on Monday, reaching $257.85. 748,054 shares of the company’s stock were exchanged, compared to its average volume of 710,968. Ameriprise Financial has a twelve month low of $106.78 and a twelve month high of $261.84. The business’s fifty day moving average price is $239.45 and its 200-day moving average price is $207.37. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 18.47 and a beta of 1.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.80 and a current ratio of 0.80.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 21st. Stockholders of record on Monday, May 10th will be paid a dividend of $1.13 per share. This is a positive change from Ameriprise Financial’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Friday, May 7th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.75%. Ameriprise Financial’s payout ratio is presently 25.84%.

In other Ameriprise Financial news, EVP Colin Moore sold 44,068 shares of the company’s stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $202.60, for a total value of $8,928,176.80. Also, CEO William F. Truscott sold 12,002 shares of the company’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $203.61, for a total transaction of $2,443,727.22. Insiders have sold a total of 104,418 shares of company stock worth $22,432,988 in the last ninety days. Insiders own 1.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ellevest Inc. increased its stake in Ameriprise Financial by 18.8% in the 1st quarter. Ellevest Inc. now owns 1,254 shares of the financial services provider’s stock worth $291,000 after buying an additional 198 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Ameriprise Financial by 1.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,287 shares of the financial services provider’s stock valued at $1,461,000 after purchasing an additional 73 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ameriprise Financial by 40.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,510 shares of the financial services provider’s stock valued at $16,158,000 after purchasing an additional 19,973 shares during the last quarter. Benedetti & Gucer Inc. purchased a new position in shares of Ameriprise Financial in the 1st quarter valued at approximately $266,000. Finally, Jones Financial Companies Lllp raised its position in shares of Ameriprise Financial by 928.0% in the 1st quarter. Jones Financial Companies Lllp now owns 257 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 232 shares during the last quarter. 83.05% of the stock is currently owned by institutional investors.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, through 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.

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

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