Ameriprise Financial, Inc.
) crafted a new 52-week high, touching $114.15 in the second half
of the trading session on Dec 26. However, the stock closed the
session at $113.81, which reflects a solid year-to-date return of
AMERIPRISE FINL (AMP): Free Stock Analysis
ARTISAN PTNR AM (APAM): Free Stock Analysis
LAZARD LTD (LAZ): Free Stock Analysis Report
WADDELL&REED -A (WDR): Free Stock Analysis
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Despite the strong price appreciation, this Zacks Rank #2 (Buy)
investment manager has plenty of upside left, given its positive
estimate revisions over the last 60 days and expected
year-over-year earnings growth of 25.1% for 2013.
Ameriprise's impressive price performance came on the back of
strong third-quarter 2013 results as well as asset growth.
On Oct 29, Ameriprise announced third-quarter results. Earnings
surpassed the Zacks Consensus Estimate by 10.4%. On an operating
basis, net revenue grew 7% year over year to $2.7 billion.
Moreover, total assets under management (AUM) and assets under
administration were $735 million, rising 8% year over year.
Ameriprise's steady capital deployment activities in the form of
share buybacks and regular dividend payouts continue to attract
investors. Further, the company's cost-control measures and
increased client activity are expected to drive growth going
Moreover, Ameriprise has delivered positive earnings surprises in
the trailing 4 quarters with an average beat of 7.88%.
Estimate Revisions Show Potency
In the last 60 days, all 6 estimates for 2013 have moved north,
lifting the Zacks Consensus Estimate by 2.5% to $6.99 per share.
For 2014, 4 out of 6 estimates advanced over the sane time frame,
causing the Zacks Consensus Estimate to increase 1.4% to $7.92
Better-ranked investment managers include
Artisan Partners Asset Management Inc.
Waddell & Reed Financial, Inc.
). All these stocks carry a Zacks Rank #1 (Strong Buy).