Ameriprise Financial Inc
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| cdq | LOCK|yT#yJ | LOCK|tvf@VT |
Ameriprise Earnings: Asset-Based Businesses Benefit From Rising Equity Markets
Ameriprise Financial’s results continue to trend positively with asset prices. The company reported net income to common shareholders of $511 million, or $5 per diluted share, on $4.4 billion of net revenue. On a company-provided, adjusted operating basis that excludes the effect of changes in actuarial assumptions on some of its insurance products and severance, the company reported pro forma operating earnings per share of $9.02, up 17% from the previous year. Net revenue increased 12% from a year ago and 4% sequentially, with most of the revenue increases from wealth and asset management fees. We don’t anticipate making a material change to our $487 per share fair value estimate for narrow-moat-rated Ameriprise and assess shares as fairly valued.
