Stock Monitor: Cohen & Steers Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 29, 2018 / Active-Investors.com has just released a free earnings report on Ameriprise Financial, Inc. (NYSE: AMP) ("Ameriprise"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AMP. The Company released its financial results on January 24, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Minneapolis-Minnesota based Company's quarterly net income, excluding the recently enacted tax act impact, outperformed market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Cohen & Steers, Inc. (NYSE: CNS), which also belongs to the Financial sector as the Company Ameriprise Financial. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ameriprise Financial most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=AMP
Earnings Highlights and Summary
During Q4 FY17, Ameriprise reported total net revenues of $3.16 billion, up 3% from $3.06 billion in the previous year's same quarter. Wall Street had expected the Company to report total net revenues of $3.03 billion for the reported quarter. The Company's quarterly revenue growth was driven by a strong growth in Advice & Wealth Management segment, and was partially offset by the impact of 12b-1 fee change.
The financial services Company reported a GAAP net income of $181 million, or $1.18 per diluted share, in Q4 FY17 compared to $400 million, or $2.46 per diluted share, in Q4 FY16. The Company's operating earnings were $182 million, or $1.18 per diluted share, for Q4 FY17 versus $443 million, or $2.73 per diluted share, in Q4 FY16. Furthermore, the Company's operating earnings, excluding tax act impacts, were $502 million, or $3.26 per diluted share, for Q4 FY17, which came in above the $443 million, or $2.73 per diluted share, reported in Q4 FY16, and market consensus estimates of $3.09 per share.
In the full year FY17, Ameriprise's total net revenues were $12.03 billion compared to $11.70 billion in FY16. The Company's operating earnings, excluding tax act impacts, came in at $1.92 billion, or $12.27 per diluted share, for FY17 versus $1.43 billion, or $8.48 per diluted share, in FY16.
Operating Metrics
The Company reported a return on equity (ROE), excluding AOCI, of 24.8% in Q4 FY17 compared to 20.4% in Q4 FY16. Ameriprise's operating ROE, excluding AOCI, was 26.9% for the reported quarter compared to 22.2% in Q4 FY16. Furthermore, the Company's operating ROE, excluding AOCI and tax act impact, was 32.3% in Q4 FY17 versus 22.2% in Q4 FY16.
Segment Performance
The Advice & Wealth Management segment's net revenues increased to $1.48 billion in Q4 FY17 from $1.32 billion in Q4 FY16. Meanwhile, the segment's expenses increased to $1.15 billion in Q4 FY17 from $1.06 billion in the last year's same quarter. Furthermore, the segment's pre-tax operating earnings rose 28% to $326 million, or 22.0% of the segment's net revenues, in Q4 FY17 from $254 million, or 19.3% of the segment's net revenues, in Q4 FY16.
In Q4 FY17, the Asset Management segment's net revenues were $825 million, up 8% from $761 million in the prior year's comparable quarter. The segment's expenses were up 3% to $611 million y-o-y in Q4 FY17. Moreover, the segment's pre-tax operating earnings surged 27% to $214 million y-o-y in Q4 FY17.
Ameriprise's Annuities segment generated net revenues of $638 million in Q4 FY17 compared to $617 million in Q4 FY16. The segment's expenses came in flat at $490 million in Q4 FY17, whereas the segment's pre-tax operating earnings rose 17% to stand at $148 million y-o-y in Q4 FY17.
During Q4 FY17, the Protection segment's net revenues stood at $528 million compared to $548 million in Q4 FY16. The segment's expenses were $481 million in the reported quarter versus $475 million in Q4 FY16. Meanwhile, the segment's pre-tax operating earnings declined 36% to $47 million y-o-y in Q4 FY17.
Dividend and Share Buyback
In a separate earnings press release on January 24, 2018, Ameriprise's Board of Directors declared a quarterly cash dividend of $0.83 per common share, payable on February 28, 2018, to shareholders of record at the close of business on February 16, 2018.
During the full year FY17, Ameriprise repurchased 1.9 million shares of its common stock for $302 million. Furthermore, the Company has bought back 9.9 million shares for $1.3 billion in the full year FY17.
Stock Performance Snapshot
January 26, 2018 - At Friday's closing bell, Ameriprise Financial's stock climbed 3.88%, ending the trading session at $179.84.
Volume traded for the day: 1.48 million shares, which was above the 3-month average volume of 881.23 thousand shares.
Stock performance in the last month - up 5.11%; previous three-month period - up 14.50%; past twelve-month period - up 56.55%; and year-to-date - up 6.12%
After last Friday's close, Ameriprise Financial's market cap was at $27.52 billion.
Price to Earnings (P/E) ratio was at 16.79.
The stock has a dividend yield of 1.85%.
The stock is part of the Financial sector, categorized under the Asset Management industry. This sector was up 0.7% at the end of the session.
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