trending Market Intelligence /marketintelligence/en/news-insights/trending/hjwLJCVoyXgIuZZUvvoDaA2 content esgSubNav
In This List

Ameriprise Financial posts lower net income YOY in Q1

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks

Blog

Anticipate the Unknown A Fundamentals Approach to Detect Early Signs of Private Company Credit Deterioration

Blog

Insight Weekly: Banks pursue deals; offshore wind transmission; UK broadcasters vs. streamers


Ameriprise Financial posts lower net income YOY in Q1

Ameriprise FinancialInc. on April 27 reported first-quarter net income attributable to thecompany of $364 million, or $2.09 per share, compared with $393 million, or $2.08per share, in the year-ago period.

Operating earnings for the quarter were $378 million, or $2.17per share, down from $412 million, or $2.18 per share, in the year-ago period. Operatingresults for the first quarter of 2016 include unfavorable items of 9 cents per share.

The S&P Capital IQ consensus normalized EPS estimate forthe quarter was $2.18.

Total net revenue for the quarter was $2.77 billion, comparedwith $3.05 billion in the first quarter of 2015.

In the advice and wealth management segment, net revenues decreased2% year over year to $1.20 billion from $1.23 billion. Total retail client assetsalso decreased, to $451 billion from $453 billion. Wrap net inflows were $1.8 billionin the quarter, down 35% from wrap net inflows of $2.8 billion in the first quarterof 2015.

Net revenue in the asset management segment decreased 10% to$724 million from $807 million. Total assets under management in the segment fell8%, to $464 billion from $506 billion in the year-ago period. There were $7.5 billionin net outflows for the segment, compared with net outflows of $5.8 billion in theyear-ago quarter.

The company repurchased 5.1 million common shares in the quarterfor $451 million.