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Last $128.27 USD
Change Today -0.02 / -0.02%
Volume 730.4K
AMP On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

ameriprise financial inc (AMP) Key Developments

Six Bidders Interested In Russell Investment

London Stock Exchange Group plc (LSE:LSE) is in talks with six parties interested in acquiring Russell Investment Management Company, according to people close to the process. An auction process for the business, which has $273 billion in funds under management and is expected to fetch as much as $1.5 billion. Towers Watson & Co. (NASDAQ:TW) and Ameriprise Financial, Inc. (NYSE:AMP) are said to be amongst the potential bidders. Other bidders were believed to include at least one China-based group and a small number of private equity firms.

Ameriprise Financial, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Effective Tax Rate Guidance for the Full Year 2015

Ameriprise Financial, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total net revenues of $3,053 million compared to $2,996 million a year ago, increased 3% as business growth was partially offset by the negative impact of foreign exchange, a decline in net investment income and lower activity due to market volatility. Income from continuing operations before income tax provision was $618 million compared to $650 million a year ago. Income from continuing operations was $479 million compared to $516 million a year ago. Net income attributable to the company was $393 million or $2.08 per diluted share compared to $400 million or $2.01 per diluted share a year ago. Operating earnings were $412 million or $2.18 per diluted share compared to $407 million or $2.04 per diluted share a year ago. Results in the quarter reflected $0.13 per diluted share of unfavorable items – a reserve increase of $0.11 per share related to closed block of long term care insurance and a net $0.02 per share unfavorable impact from other items discussed in the segment commentaries. Pretax operating earnings were $562 million compared to $544 million a year ago. Return on equity excluding AOCI was 21.5% compared to 18.2% a year ago. Operating return on equity excluding AOCI was 23.1% compared to 20.8% a year ago. The company estimates that its full year 2015 operating effective tax rate will be in the 26% to 28% range.

Ameriprise Financial, Inc. Increases Regular Quarterly Dividend Payable on May 15, 2015

Ameriprise Financial, Inc. increased its regular quarterly dividend 16% to $0.67 per share payable on May 15, 2015 to shareholders of record as of May 4, 2015.

Ameriprise Financial, Inc. to Pay $27.5 Million to Settle a Lawsuit

Ameriprise Financial Inc. will pay $27.5 million to settle a lawsuit centered on its stewardship of employee 401(k)s. On March 26, 2015 a joint motion approving the settlement was filed, marking the likely conclusion of a class action suit filed in 2011 against the Minneapolis-based financial services company. The suit, filed by the plaintiffs' attorney Jerry Schlichter, alleged that Ameriprise saddled its own 401(k) plan with low-performing mutual funds and charged its employees excessive fees for the plan's administration. If the motion is approved by U.S. District Judge Susan Richard Nelson, the settlement will cover about 24,000 current and former employees. The law firm for the plaintiffs, St. Louis-based Schlichter, Bogard & Denton, will receive $10 million of the proceeds.

Sterling National Bank Launches Private Wealth Management Services Offer with Ameriprise Financial

Sterling National Bank has launched a private wealth services program through a new relationship with Ameriprise Financial. The alliance will provide the clients of Sterling's commercial teams with access to investment and financial planning services from a number of Ameriprise Financial's top wealth management teams. Access to the services through this new relationship with Ameriprise Financial is available to Sterling clients beginning immediately, and will be delivered through Sterling's distinctive team-based delivery model.

 

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AMP

Industry Average

Valuation AMP Industry Range
Price/Earnings 15.3x
Price/Sales 1.9x
Price/Book 2.8x
Price/Cash Flow 14.4x
TEV/Sales 0.4x
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