Ameriprise Posts 3Q EPS of $12.32
AMP is trading near its 52-week low of $422.37 (15% above the low) on elevated volume (2.0× avg).
Summary
Ameriprise reported third-quarter earnings per share of $12.32, per Dow Jones Newswires, and adjusted earnings per share of $11.26. The figures carry no revenue, net income, or year-over-year comparison, so the beat/miss picture versus consensus is not yet clear. This lands after a rough stretch for the stock: BofA downgraded it to Underperform on October 19 with a $445 price target, and the company added a $5.5 billion buyback authorization on September 29. Q2 net income was $1.1 billion on record $1.4 trillion in assets under management, so the bar for the wealth-management and asset-management engines is high. The full release and any guidance commentary will determine whether the $12.32 print reverses the downgrade narrative.
At the time of this announcement, 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 news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.