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.

AMP has been the topic of a number of analyst reports. Zacks Investment Research raised Ameriprise Financial Services from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research note on Thursday, October 5th. Morgan Stanley lifted their price target on Ameriprise Financial Services from $152.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Royal Bank of Canada set a $149.00 price target on Ameriprise Financial Services and gave the stock a “hold” rating in a research note on Wednesday, October 18th. SunTrust Banks lifted their price target on Ameriprise Financial Services from $140.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, ValuEngine cut Ameriprise Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Ameriprise Financial Services has a consensus rating of “Buy” and a consensus target price of $154.20.

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.

WARNING: “Brokerages Anticipate Ameriprise Financial Services, Inc. (AMP) Will Announce Earnings of $3.12 Per Share” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.watchlistnews.com/brokerages-anticipate-ameriprise-financial-services-inc-amp-will-announce-earnings-of-3-12-per-share/1761726.html.

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.

Get a free copy of the Zacks research report on Ameriprise Financial Services (AMP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ameriprise Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial Services and related companies with Analyst Ratings Network's FREE daily email newsletter.