MarketBeat
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Key Points
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Interested in Ameriprise Financial, Inc.? Here are five stocks we like better.
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Ameriprise delivered strong Q3 growth: Adjusted operating revenue rose 10% year over year to $5.1 billion, adjusted earnings increased 14%, and adjusted EPS climbed 22%, while total assets reached $1.8 trillion.
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Wealth Management remained the primary growth driver: Segment revenue increased 13%, client assets rose 8% to $1.2 trillion, net inflows improved substantially, and revenue per advisor reached a record $1.2 million.
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Ameriprise is investing in expansion while returning capital: The company completed the transition of 260 Huntington Bank advisors, expanded its AI tools for advisors, returned $1 billion to shareholders in the quarter, and authorized a new $5.5 billion share-repurchase program.
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Ameriprise Financial (NYSE:AMP) reported higher third-quarter adjusted operating revenue and earnings, supported by asset growth, client activity and advisor productivity, while management highlighted continued investment in technology, advisor support and capital returns.
Excluding the impact of its annual actuarial assumption update, Ameriprise said adjusted operating net revenue rose 10% year over year to $5.1 billion. Adjusted operating earnings increased 14%, while adjusted earnings per share rose 22%. Total assets under management, administration and advisement increased 8% to $1.8 trillion.
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Amprius Technologies’ Next Big Rally Could Be Taking Shape
Chairman and CEO Jim Cracchiolo said the company was operating in a market environment marked by equity-market gains alongside inflation, higher interest rates and geopolitical uncertainty. He said client demand for financial advice remained an important driver of the company’s performance.
“Clients want to work with an advisor and a firm they can trust, with the advice, investment expertise, and solutions to fully serve their needs,” Cracchiolo said.
Wealth Management Growth and Advisor Productivity
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The Bull Case for Amprius Technologies Just Got Stronger
Ameriprise’s Wealth Management segment reported adjusted operating net revenue of $3.4 billion, up 13% from a year earlier. Fee-based and transaction-based revenue increased 15%, aided by higher client asset levels and increased activity. Transaction activity rose 6%, primarily due to annuity-product sales and brokerage transactions.
