Ameriprise Financial Inc
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+ FollowMarket Cap$43.36B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong Q3 performance; upside driven by wealth momentum + leverage (good/surprising)
- Adjusted EPS: +22% YoY (excluding unlocking), continuing a record growth trajectory.
- Adjusted net revenues (ex-unlocking): +$10% to $5.1B.
- Return on equity (ex-unlocking): >56%, up from 52.8% a year ago—management attributes this to differentiated economics and operating leverage.
- AUM/AA/A (total): $1.8T, +8%, reflecting strong market participation plus client engagement.
Wealth Management engine remains durable: advisor productivity up, client assets up (good)
- Organic/fee-based durability: Client assets +8% to $1.2T; wrap assets +12% to $729B.
- Advisor productivity: +13% to a record ~$1.2M per advisor.
- Client satisfaction: 4.9/5, reinforcing the “advice + engagement + judgment” positioning.
- Flows: excluding Comerica, net inflows +56% YoY to $5.3B; wrap net inflows +38% YoY to $6.6B; organic flow rate still ~4% (management framed as stable/improving sequentially).
Recruiting/retention debate addressed; management says strategy unchanged despite press (mixed—could be a risk to monitor)
- Management explicitly denied that they are changing recruiting “packages,” stating strategy is consistent: invest in advisor support + technology + onboarding + long-term value proposition.
- New advisor hiring: 79 experienced advisors in the quarter.
- Retention: described as high (overall retention “high 90%” for long-tenured advisors; competitors allegedly have high attrition to peers but Ameriprise retains strongly).
- Surprising angle: management claims advisor “capacity” gains—AI-enabled practices can generate 30+ hours/week of additional time, helping productivity and potentially retention.
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$816.34
54.7% upside
Current Fair Value
54.7% upsideUndervalued by 54.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $43.36 Billion |
|---|---|
| Enterprise Value | $70.98 Billion |
| Annual dividend | $6.60 |
| Dividend yield | 1.34% |
| Earnings per Share | $36.9 |
| Beta | 1.16 |
| Outstanding Shares | 90,300,000 |
Return
| Return on Equity | 33.88% |
|---|---|
| Return on Assets | 1.09% |
| Return on Invested Capital | 2.64% |
Valuation & Multiples
| P/E Ratio | 10.9 |
|---|---|
| PEG | 0.03 |
| Price to Sales | 4.63 |
| Price to Book Ratio | 7.54 |
| Enterprise Value to Revenue | 6.86 |
| Enterprise Value to EBIT | 16.4 |
| Enterprise Value to Net Income | 32 |
| Total Debt to Enterprise | 0.53 |
| Debt to Equity | 5.93 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$11.77
Consensus analyst estimateRevenue Estimate
$5.10 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 28, 2027
EPS Estimate
$12.31
Consensus analyst estimateRevenue Estimate
$5.21 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 75.83% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.32%▼ 79.67% |
|---|---|
| Total Invested | $2.40B▼ 93.37% |
| Investors Holding | 542▼ 872.00% |
About Ameriprise Financial Inc
13,600 employees
CEO: James Cracchiolo
Ameriprise Financial, Inc. is a prominent provider of diverse financial products and services, catering to both individual and institutional clients across the United States and internationally. The company operates through four distinct...