Overview
Financial services firm's Q4 revenue rose, beating analyst expectations
Adjusted EPS for Q4 beat analyst expectations, increasing 16% yr/yr
Company's assets under management reached a record $1.7 trillion, up 11%
Outlook
Ameriprise did not provide specific guidance for future quarters or year
Result Drivers
ASSET GROWTH - Record assets under management, administration, and advisement reached $1.7 trillion, up 11%, driven by strong client inflows and market appreciation
EXPENSE MANAGEMENT - Adjusted operating net revenues increased 10% to $4.9 billion, attributed to disciplined expense management and asset growth
CLIENT ENGAGEMENT - Strong client engagement in financial planning and advice relationships boosted Advice & Wealth Management segment revenues by 12%
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$4.96 bln
$4.74 bln (6 Analysts)
Q4 Adjusted EPS
Beat
$10.83
$10.32 (11 Analysts)
Q4 EPS
$10.47
Q4 Net Income
$1.008 bln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy"
Wall Street's median 12-month price target for Ameriprise Financial Inc is $550.00, about 10.1% above its January 28 closing price of $499.67
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBw6yj58ga
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)