Jul. 29, 2014, 6:19 PM
Jul. 29, 2014, 4:15 PM| Comment!
Jul. 28, 2014, 5:35 PM
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Jun. 12, 2014, 1:02 PM
- Looking to do a better job wooing top wealth managers, Ameriprise Financial (AMP -0.6%) will match signing bonuses offered by the nation's largest brokers, raising the amount offered to 150% of an adviser's last 12 months of revenue from 120% previously.
- The move comes after Ameriprise since late last year brought in just eight brokers with more than $100M of AUM. During that same period, regional competitor Raymond James lured 32 new brokers.
Apr. 28, 2014, 4:36 PM
- Alongside its earnings beat, Ameriprise Financial (AMP) delivers an additional $2.5B for buybacks over the next year and boosts the quarterly dividend by $0.06 to $0.58 per share. At the current price, the repurchase plan is enough to buy back about 24M shares, or more than 12% of the float.
- Shares +2% AH
- Source: Press Release
- Previously: Ameriprise Financial, Inc. beats by $0.16
Apr. 28, 2014, 4:34 PM| 1 Comment
Apr. 28, 2014, 4:08 PM
Apr. 27, 2014, 5:35 PM
Mar. 28, 2014, 10:11 AM
- Ameriprise Financial (AMP +2.1%) has its tail in the air after RBC Capital boosts its 2015 EPS estimate to a Street-high $9.55, allowing that its prior forecasts for share repurchases and profit margins assumptions were too conservative. The price target is boost by $6 to $119.
Feb. 4, 2014, 4:55 PM
- Operating earnings of $378M gained 3% from a year ago, with operating earnings per share of $1.87 up 9% (Full year share repurchases of $1.9B). Operating revenue of $2.8B up 8% Y/Y, with both market appreciation and client inflows contributing. Operating expenses of $2.3B up 7%, with G&A expense up just 1%.
- Advice and Wealth Management pretax operating earnings of $162M up 36% Y/Y, with operating margin of 14.4% up 260 basis points. Total client retail assets of $409B up 16%.
- Asset Management pretax operating earnings of $194M up 38%, with operating margin of 40.2% up 660 basis points. AUM up 10% to $501B, with $5.5B of that net inflows, the rest market appreciation.
- Annuities pretax operating earnings of $187M up 9%. Variable annuity operating earnings of $156M up 21% thanks to strong markets, but fixed annuity earnings off 26% to $31M thanks to continued spread compression associated with low interest rates.
- Press release, Q4 results
- AMP unchanged AH
Feb. 4, 2014, 4:34 PM| Comment!
Feb. 4, 2014, 4:15 PM| Comment!
Feb. 4, 2014, 12:10 AM
Feb. 3, 2014, 5:35 PM
Feb. 3, 2014, 3:33 PM
- Stifel Financial (SF -4.2%) continues to slide inline with the rest of the brokerage names two days after boosting its California underwriting business with an agreement to acquire De La Rosa & Co. The combined firms will rank as the #1 underwriter in a number of areas: K-12, COP & Lease Revenue Bonds, Tax Increment, and Economic Development.
- Terms were not disclosed.
- Press release
- Others in the sector today: BCG Partners (BGCP -4.4%), AllianceBernstein (AB -5.4%), Ameriprise (AMP -3.5%), Raymond James (RJF -4.9%).
Jan. 29, 2014, 12:59 PM
- Strong equity markets in Q4 should propel earnings for life insurers (set to start this week), writes Credit Suisse's Tom Gallagher, particularly those with variable annuity and asset management/retirement exposure. MetLife (MET -0.6%), Prudential (PRU -0.5%), and Lincoln National (LNC -1.1%), of course, have been busily trying to reduce exposure to variable annuities after nearly being brought down by them in the financial crisis.
- Deutshce's Yaron Kinar also strikes a bullish note, welcoming the big declines so far this year as a buying opportunity.
- Hartford (HIG -0.6%) is expected to post EPS of $0.90 vs. $0.54 a year earlier, and guidance should "be supportive" of his 2014 estimate of $3.62, says Gallagher, who rates the stock at Outperform.
- Principal Financial (PFG -0.9%) is expected to report $0.93 vs. $0.82 a year ago. Kinar expects a slowdown in buybacks to $23M. He rates the shares a Hold.
- Aflac (AFL +0.5%) is expected to post $1.39, down from $1.48 a year ago. Gallagher's numbers are higher, but he rates the shares only at Neutral.
- Capital returns at Ameriprise (AMP -0.6%) are estimated at $475M in Q4 - $375M in buybacks and $100M dividend - says Gallagher, rating the stock at Neutral.
- Prudential (PRU -0.5%) - rated at Outperform by Gallagher - should report $2.33 vs. $1.69 a year ago.
- MetLife (MET -0.6%) - rated a Buy by Kinar - may disappoint in the headline number thanks to a boosted share count due to the conversion of $1B in equity units. Investors hope to hear some clarity on buybacks, but shouldn't hold their breath until the insurer gets more guidance from the Fed.
- Gallagher rates AIG at Outperform though the insurer continues to suffer an underwriting loss - this creates opportunity, however, for a catalyst going forward from improvement in this trend.
AMP vs. ETF Alternatives
Ameriprise Financial Inc through its subsidiaries is engaged in providing financial planning, products and services as solutions for its clients' cash and liquidity, asset accumulation, income, protection and estate and wealth transfer needs.
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