This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ameriprise Financial Reports Second Quarter 2013 Results

Ameriprise Financial, Inc. (NYSE: AMP) today reported strong second quarter 2013 results. Net income (1) was $322 million, or $1.54 per diluted share, compared to $224 million, or $0.99 per diluted share, a year ago. Operating earnings were $352 million, or $1.69 per diluted share, compared to $254 million, or $1.13 per diluted share, a year ago.

Operating net revenues grew 9 percent to $2.7 billion, primarily driven by robust client net inflows, increased client activity and market appreciation, partially offset by the decline in net investment income from low interest rates.

Operating expenses increased 6 percent to $2.3 billion, primarily reflecting higher distribution costs from business growth. The company’s ongoing focus on expense discipline resulted in general and administrative expenses remaining flat compared to a year ago.

The company continues to return capital to shareholders while maintaining a strong financial foundation. In the quarter, a total of $488 million was returned to shareholders through share repurchases and dividends. During the past four quarters, 134 percent of operating earnings was returned to shareholders.

Return on shareholders’ equity excluding accumulated other comprehensive income (AOCI) was 15.5 percent for the 12 months ended June 30, 2013. Consistent with its strategy, the company has steadily expanded its return, with operating return on equity excluding AOCI reaching 17.9 percent at quarter end, a 270 basis point increase from a year ago.

“Ameriprise delivered another quarter of strong financial results,” said Jim Cracchiolo, chairman and chief executive officer. “Revenues and earnings were up nicely; in fact, our operating return on equity reached an all-time high of 17.9 percent.”

“All of our business segments performed well, most notably Advice and Wealth Management. We’re experiencing good growth in client acquisition and strong client net inflows, which are key drivers of advisor productivity gains. Even with the pressure of low interest rates, we’re delivering meaningful growth in profitability.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.90 -0.12%
FB $99.35 -0.40%
GOOG $677.44 -0.78%
TSLA $148.01 0.01%
YHOO $26.84 -0.78%


Chart of I:DJI
DOW 16,015.88 -11.17 -0.07%
S&P 500 1,852.68 -0.76 -0.04%
NASDAQ 4,273.1550 -10.5980 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs