Ameriprise Financial, Inc. (NYSE:AMP) Q4 And Full Year Results Exults The Market


Dallas, Texas 02/19/2014 (FINANCIALSTRENDS) – S&P 500 index tracked asset management firm Ameriprise Financial, Inc. (NYSE:AMP) reported results for its fourth quarter and full year operations on 4th February. It reported net income per share of $1.87 or $298 million for the full quarter operations, which is a 9 percent appreciation on its 4Q12 numbers. For the full year, its earnings per share went up by a significant 26 percent to $7.05. Other significant highlights from the results announcement, was that the firm’s bread and butter business of “Advice and Asset Management” revenue has gone up by 37 percent for the just concluded fourth quarter, while for the full year, it has recorded a 31 percent increase. Revenue for the quarter had gone up by 8 percent to reach $2.8 billion which was a 10 percent increase over its previous year quarter numbers. As part of its increased focus on achieving sales growth, the firm’s operating expense has gone up by 7 percent to reach $2.3 billion.

For the full year operations, the firm reported net income of $10.9 billion, which represents a 7 percent increase over Fy12, while its operating earnings went up by 17 percent to reach $1.5 billion for the full year.  The asset management firm also disclosed that for the full year, it had the distinction of having managed assets worth a total of $771 billion.

Other highlights from the earnings call was the $475 million that had been set aside by the firm during the quarter for share repurchase programme designed to increase the value of the stock holdings of its share holders and had spent a total of $1.9 billion towards dividend payout to its share holders.

Commenting about the big build up in momentum, Ameriprise Financial, Inc. (NYSE:AMP) Chief Executive Officer and Chairman Jim Cracchiolo has been quoted to have said that, “We had a very good quarter, and a terrific year. Our advisory and asset management businesses are leading our growth. Overall, assets are up significantly across the firm and we have particular strength in our Advice & Wealth Management business, with robust client net inflows and good growth in advisor productivity.”

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