Ameriprise Q3 EPS $12.32; New $5.5B Buyback Through 2028
AMP is trading near its 52-week low of $422.37 (15% above the low) on elevated volume (2.0× avg).
Summary
Ameriprise reported Q3 GAAP EPS of $12.32 (up from $9.33) and adjusted operating EPS of $11.26, returned over $1.0 billion to shareholders, and authorized a new $5.5 billion buyback through September 2028.
Key Events · Earnings and Guidance · AMP
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Q3 EPS Jumps to $12.32
GAAP net income per diluted share was $12.32 versus $9.33 a year ago, on net income of $1,126 million, up 23%. Adjusted operating EPS rose 14% to $11.26 and 22% to $12.07 excluding unlocking.
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New $5.5B Buyback Authorized
The board announced a new share repurchase authorization of $5.5 billion through September 30, 2028. In the quarter the company returned $1,026 million total, including $871 million of buybacks and $155 million of dividends.
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Unlocking Charge Hits $0.79/Share
The annual unlocking review produced an unfavorable after-tax impact of $72 million, or $0.79 per share, on a GAAP basis and $74 million, or $0.81 per share, on an adjusted operating basis, from policyholder behavior assumption updates.
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Asset Management Outflows $9.3B
Net AUM and AUA flows were negative $9.3 billion, driven by $5.5 billion of institutional outflows tied to client asset allocation decisions and $2.9 billion of retail outflows.
Analysis · AMP · Finance
Ameriprise cleared its year-ago bar decisively: GAAP EPS of $12.32 versus $9.33, and adjusted operating EPS excluding unlocking up 22% to $12.07. For holders, the quarter's real story is capital return — over $1.0 billion, or 93% of operating earnings, went back to shareholders, and the board added a new $5.5 billion repurchase authorization running through September 30, 2028. Against that, the soft spots are visible: Asset Management posted $9.3 billion of net outflows and Advice & Wealth Management client net flows were negative $8.5 billion, largely the Comerica transition. The $72 million after-tax unlocking charge ($0.79 per share GAAP) is an actuarial assumption update, not a cash event. Note the stock was downgraded to Underperform on October 19 with a $445 target, so this print is the first hard data point against that call.
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At the time of this filing, AMP was trading at $484.28 on NYSE in the Finance sector, with a market capitalization of approximately $43.3B. The 52-week trading range was $422.37 to $572.56. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.