Latest News


Ameriprise Financial Reports Third Quarter 2016 Results

MINNEAPOLIS – October 25, 2016 – Ameriprise Financial, Inc. (NYSE: AMP) today reported third quarter 2016 net income of $215 million, or $1.30 per diluted share. Operating earnings were $227 million, with operating earnings per diluted share of $1.37. Excluding the non-cash impact of annual unlocking in both periods, operating earnings per diluted share increased 4 percent to $2.29 with operating earnings of $380 million in the quarter.
GAAP Results
Net revenues of $3.0 billion increased 4 percent reflecting the cumulative impact of wrap net inflows, higher average equity markets and an impact from annual unlocking, partially offset by asset management outflows and lower client transactional activity.
Expenses of $2.8 billion increased 14 percent as a result of higher expenses related to unlocking as general and administrative expenses remained well controlled.
Operating Results
Operating net revenues of $3.0 billion increased 3 percent. Excluding annual unlocking in both quarters, operating net revenues were essentially flat, reflecting the cumulative impact of wrap net inflows and higher average equity markets compared to the year ago, offset by the cumulative impact of asset management outflows and lower client transactional activity.
Operating expenses of $2.7 billion increased 16 percent. Excluding annual unlocking in both quarters, operating expenses increased 1 percent from higher distribution expenses and well controlled general and administrative expenses.
In the quarter, the company continued to deliver a strong return to shareholders through share repurchases and dividends of $502 million. 

Markets Appear to Hold Steady as Q3 Earnings are Released

Earnings are the main focus currently among those not preoccupied with the election, and those trying desperately not to be. We are a little more than one-fifth through reporting season and so far the results are better than expected, as usual. Factset now reports that a decline of just 0.3 percent is projected for the third quarter when all is said and done, but that is down from -2.0 percent when the quarter ended, as a higher than usual percentage of companies have exceeded expectations.

What’s Behind the Renewed Focus on Inflation?

While most eyes were focused on equity earnings last week, the more interesting movements were taking place in the bond market. In what was an abbreviated trading week due to the Columbus Day holiday, Treasury yields continued to churn higher in an ascent that traces back to early July. The ten-year note yield ended the week at 1.79 percent, up seven basis points from the prior week. In just the first two weeks of October alone the yield has jumped 20 basis points. The yield is now back to where it was in early June, just prior to the disappointing May jobs report and before the surprising Brexit vote. But after a soft patch in August, more recently the economic data has firmed, inflation readings have turned higher and the Fed seems to be on a path to raise rates in December.

View More

Latest Research

Keys to a successful financial relationship for couples

Money is a common topic that can cause disagreements between couples. A new Ameriprise study reveals strategies to help you improve your financial relationship with your partner or spouse.