Shares of Ameriprise Financial AMP were unchanged in after-market trading after the company reported Q2 results.
Earnings per share fell 34.98% year over year to $2.64, which missed the estimate of $2.85.
Revenue of $2,712,000,000 decreased by 16.43% year over year, which missed the estimate of $2,820,000,000.
Ameriprise Financial hasn't issued any earnings guidance for the time being.
Ameriprise Financial hasn't issued any revenue guidance for the time being.
Company's 52-week high was at $180.85
Company's 52-week low was at $80.01
Price action over last quarter: Up 28.90%
Spun off from American Express in 2005, Ameriprise Financial has emerged as a major player in the U.S. market for asset and wealth management, with around $970 billion in total assets under management and advisement at the end of 2019. While the company maintains a meaningful presence in annuities and life insurance, it has become an increasingly smaller contributor to earnings as the company's asset and wealth management divisions have grown to over 70% of revenue. Ameriprise has one of the largest branded advisor networks in the industry.
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