Ameriprise Touches a New 52-Week High - Analyst Blog

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Shares of Ameriprise Financial, Inc. ( AMP ) 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.

Growth Drivers

Impressive first-quarter 2014 results and enhanced capital deployment activities were the primary growth drivers for Ameriprise.

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 operating expenses.

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. ( CNS ), Woori Finance Holdings Co., Ltd. ( WF ) and Janus Capital Group, Inc. ( JNS ). While both Cohen & Steers and Woori Finance sport a Zacks Rank #1 (Strong Buy), Janus Capital holds a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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