Ameriprise Q2 Assets Hit $1.8 Trillion, Up 14% on Market Gains and Inflows
AMP sits 25% above its 52-week low of $422.37.
Summary
Ameriprise reported Q2-end assets under management, administration, and advisement of $1.8 trillion, a 14% increase from a year ago. Adjusted operating net revenues reached $4.9 billion, up 13%, with total revenue of $4.94 billion. The pretax adjusted operating margin was 27%, and adjusted operating EPS was $11.07, up 22% year-over-year. The bottom line rose in Q2, reflecting strong market appreciation and continued client inflows. The asset base expansion supports higher fee income, and shares are trading near a 52-week high.
At the time of this announcement, AMP was trading at $529.58 on NYSE in the Finance sector, with a market capitalization of approximately $47.4B. The 52-week trading range was $422.37 to $550.18. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.