Ameriprise Financial, Inc.
) scaled a new 52-week high, reaching $118.21 in the second half of
the trading session on Jun 6. The stock closed at $118.04,
reflecting a solid return of 42.0% over the past one year. The
trading volume for the session was 1.0 million shares.
Despite the strong price appreciation, this Zacks Rank #2 (Buy)
stock has plenty of upside left, given its sturdy estimate
revisions over the last 60 days.
Impressive first-quarter 2014 results and enhanced capital
deployment activities were the primary growth drivers for
Ameriprise reported first-quarter 2014 results on Apr 28. Earnings
of $2.04 per share outpaced the Zacks Consensus Estimate by 9.1%.
Results benefited from top-line growth, partially offset by higher
Further, during the first quarter, Ameriprise returned $811 million
to its shareholders in the form of dividend payments and share
repurchases. Also, the company authorized an additional share
repurchase of $2.5 billion through Apr 28, 2016. Moreover,
Ameriprise announced a regular dividend payout of 58 cents,
reflecting a 12% hike from the prior payout.
Estimate Revisions Show Strength
Over the last 60 days, all 5 estimates for 2014 have been revised
upward, advancing the Zacks Consensus Estimate by 3.4% to $8.26 per
share. For 2015, four of the five estimates moved north, pushing
the Zacks Consensus Estimate up 3.4% to $9.37 per share, over the
same time frame.
Some other asset managers worth considering include
Cohen & Steers Inc.
Woori Finance Holdings Co., Ltd.
Janus Capital Group, Inc.
). While both Cohen & Steers and Woori Finance sport a Zacks
Rank #1 (Strong Buy), Janus Capital holds a Zacks Rank #2
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