Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Ameriprise Financial Services (AMP) , which belongs to the Zacks Financial - Investment Management industry.This financial services company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 2.31%.For the most recent quarter, Ameripri ...

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The continued shift in investor preference toward passive investment strategies is expected to hamper top-line growth of the Zacks Investment Management industry stocks. Elevated technology costs will likely hurt profitability to an extent.While investment management companies benefited from significantly higher volatility and client activity in the past, they are not likely to record impressive growth in their assets under management (AUM) balances in the near term due to volatile asset flows. Yet, firms l ...

Ameriprise Financial Services (AMP) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of ...

Investors with an interest in Financial - Investment Management stocks have likely encountered both Ameriprise Financial Services (AMP) and Ares Management (ARES) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank ...

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Financial Performance - For the first quarter of 2024, adjusted operating earnings were $878 million, compared to $798 million in the same period of 2023, reflecting a growth of approximately 10%[256] - The adjusted operating earnings per diluted share for Q1 2024 was $8.39, up from $7.25 in Q1 2023, representing a year-over-year increase of 15.7%[256] - Net income for the three months ended March 31, 2024, was $990 million, a significant increase of $573 million compared to $417 million in the prior year[267] - Total revenues for the three months ended March 31, 2024, were $4.325 billion, an increase of $480 million, or 12%, compared to $3.845 billion in the prior year[267] - Pretax income surged by $723 million, resulting in a total of $1.219 billion for the three months ended March 31, 2024, compared to $496 million in the prior year[268] - The effective tax rate for the three months ended March 31, 2024, was 18.8%, up from 15.9% in the prior year period, primarily due to higher pretax income and a decrease in foreign tax credits[273] Assets Under Management - As of March 31, 2024, Ameriprise Financial has $1.4 trillion in assets under management and administration[253] - Total Assets Under Management (AUM) increased by $126.1 billion, or 13%, to $1.1 trillion as of March 31, 2024, compared to $1.0 trillion as of March 31, 2023[263] - Advice & Wealth Management AUM rose by $86.7 billion, or 20%, to $518.1 billion, while Asset Management AUM increased by $44.4 billion, or 7%, to $652.1 billion[264] - Total Assets Under Administration (AUA) increased by $63.2 billion, or 27%, to $297.5 billion as of March 31, 2024, driven by equity market appreciation[263] Capital and Equity - Total Ameriprise Financial, Inc. shareholders' equity as of March 31, 2024, was $4.331 billion, an increase from $4.032 billion a year earlier[258] - Available Capital for Capital Adequacy as of March 31, 2024, was $5.135 billion, down from $5.418 billion at the end of 2023[259] - The total shareholders' equity, excluding accumulated other comprehensive income (AOCI), was $6.505 billion as of March 31, 2024, compared to $6.069 billion a year earlier[258] - The company has $2.6 billion remaining under its share repurchase authorization as of March 31, 2024[305] Investment Income and Expenses - Net investment income increased by $203 million, or 29%, to $901 million for the three months ended March 31, 2024, primarily due to growth in customer deposits and rising interest rates[270] - Distribution expenses rose by $193 million, or 16%, to $1.419 billion, reflecting higher advisor compensation and increased transactional activity[271] - Banking and deposit interest expense increased by $76 million, or 74%, reflecting higher average crediting rates and volumes on certificates and deposits[270] - Total expenses for the three months ended March 31, 2024, were $649 million, an increase of $15 million, or 2%, compared to the prior year period[288] Strategic Focus and Market Conditions - The company continues to focus on strategic objectives amid macroeconomic uncertainties, including interest rate fluctuations and market volatility[253] - The daily average of the S&P 500 index increased by 25% from 3,998 in Q1 2023 to 4,996 in Q1 2024[262] - The company anticipates continued growth in client acquisition and retention strategies, alongside expected trends in lower-risk product shifts[310] Shareholder Returns - Regular quarterly dividends paid to shareholders totaled $143 million for the three months ended March 31, 2024, compared to $138 million for the same period in 2023[305] - The company repurchased a total of 1.2 million shares of common stock at an average price of $409.96 per share during the three months ended March 31, 2024[305]

Ameriprise Financial Services (AMP) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individua ...

Ameriprise Financial’s (AMP) first-quarter 2024 adjusted operating earnings of $8.39 per share handily surpassed the Zacks Consensus Estimate of $8.10. The bottom line reflects a rise of 16% from the year-ago quarter.Results were aided by revenue growth, along with higher assets under management (AUM) and assets under administration (AUA) balances. However, an increase in expenses acted as a headwind.After considering significant items, net income (GAAP basis) was $990 million or $9.46 per share, up from $4 ...

Ameriprise Financial, Inc. (NYSE:AMP) Q1 2024 Earnings Conference Call April 23, 2024 9:00 AM ET Company Participants Alicia Charity - Senior Vice President, Investor Relations James M. Cracchiolo - Chairman and Chief Executive Officer Walter S. Berman - Executive Vice President and Chief Financial Officer Conference Call Participants Brennan Hawken - UBS Suneet Kamath - Jefferies Wilma Burdis - Raymond James Thomas Gallagher - Evercore ISI Ryan Krueger - KBW Alex Blostein - Goldman Sachs Craig Siegenthaler ...