Ameriprise Financial, Inc. · AMP · FY2025 Q2 · Calendar Q3 2025
Ameriprise: Record AUM and EPS Growth, but Outflows Persist
The quarter supports a constructive view of Ameriprise's wealth-management trajectory: record AUM, asset growth, client inflows, adviser recruiting, and technology investment were positives. The thesis remains conditional because asset-management outflows and rising distribution expenses could offset growth.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
The latest analysis added record $1.6 trillion AUM, 11% year-over-year wealth-management asset growth, 7% adjusted operating EPS growth, a 27% consolidated margin, 73 new advisers, and an 85% payout-ratio focus. Compared with the prior quarter, the company continued expanding Signature Wealth and product offerings while asset-management outflows and distribution costs remained concerns.
Guidance delta
No new guidance was provided; prior-quarter guidance sentiment was maintained.
Key takeaways
- Record AUM of $1.6 trillion and 11% year-over-year wealth-management asset growth were key positives.
- Adjusted operating EPS grew 7%, while consolidated margins remained strong at 27%.
- Asset-management outflows and rising distribution expenses remain the main offsets.
Management priorities
- Expand Signature Wealth and unified management accounts.
- Launch CDs, HELOCs, checking accounts, and active ETFs in the U.K. and Europe.
- Continue technology, AI, adviser-tool, CLO, and interval-fund initiatives.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 6, 2026 |
| Argus Research | Buy | Buy | Maintain | Jul 31, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 24, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 24, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 13, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 13, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Jul 10, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 10, 2026 |
| William Blair | Market Perform | Outperform | Downgrade | Jul 25, 2025 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 25, 2025 |
| UBS | Neutral | Buy | Downgrade | Jan 6, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Mar 27, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 1, 2023 |
| B of A Securities | Buy | Buy | Maintain | Sep 7, 2022 |
| Citigroup | Buy | Buy | Maintain | Jun 21, 2021 |
| Barclays | Overweight | Overweight | Maintain | Apr 12, 2021 |
| CFRA | Buy | Buy | Maintain | May 13, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Oct 26, 2017 |
| Deutsche Bank | Hold | Buy | Downgrade | Oct 14, 2016 |
| Wells Fargo | Market Perform | Outperform | Downgrade | Jan 13, 2016 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Oct 12, 2015 |
| Sterne Agee | Neutral | Neutral | Maintain | Oct 13, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $490.56. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Capital One Financial | Brennan Hawken | $520 | $496.67 | +6.0% | Oct 6, 2026 |
| Raymond James | Analyst unavailable | $570 | $490.91 | +16.2% | Oct 5, 2026 |
| Raymond James | Analyst unavailable | $638 | $558.26 | +30.1% | Aug 21, 2026 |
| Piper Sandler | Analyst unavailable | $518 | $506.76 | +5.6% | Jul 13, 2026 |
| Morgan Stanley | Michael Cyprys | $489 | $506.62 | -0.3% | Jul 10, 2026 |
| Jefferies | Suneet Kamath | $645 | $500.16 | +31.5% | Jul 10, 2026 |
| Piper Sandler | Crispin Love | $471 | $467.19 | -4.0% | May 4, 2026 |
| Morgan Stanley | Analyst unavailable | $467 | $479.63 | -4.8% | Apr 30, 2026 |
| BMO Capital | Brennan Hawken | $490 | $455.71 | -0.1% | Apr 24, 2026 |
| RBC Capital | Analyst unavailable | $560 | $456.59 | +14.2% | Apr 21, 2026 |
| Morgan Stanley | Analyst unavailable | $452 | $441.86 | -7.9% | Apr 10, 2026 |
| Raymond James | Wilma Burdis | $582 | $488.19 | +18.6% | Feb 11, 2026 |
| RBC Capital | Kenneth Lee | $605 | $529.47 | +23.3% | Feb 2, 2026 |
| Piper Sandler | John Barnidge | $530 | $521.36 | +8.0% | Jan 29, 2026 |
| Morgan Stanley | Analyst unavailable | $485 | $489.17 | -1.1% | Dec 22, 2025 |
| Evercore ISI | Analyst unavailable | $570 | $490.17 | +16.2% | Oct 9, 2025 |
| Morgan Stanley | Analyst unavailable | $484 | $486.62 | -1.3% | Oct 1, 2025 |
| Morgan Stanley | Michael Cyprys | $462 | $519.55 | -5.8% | May 15, 2025 |
| Morgan Stanley | Michael Cyprys | $509 | $514.04 | +3.8% | Oct 30, 2024 |
| Goldman Sachs | Alexander Blostein | $476 | $463.09 | -3.0% | Sep 25, 2024 |
| RBC Capital | Kenneth Lee | $500 | $432.05 | +1.9% | Jul 30, 2024 |
| UBS | Brennan Hawken | $495 | $429.25 | +0.9% | Jul 9, 2024 |
| Argus Research | Kevin Heal | $460 | $418.95 | -6.2% | May 6, 2024 |
| Morgan Stanley | Michael Cyprys | $445 | $412.86 | -9.3% | Apr 24, 2024 |
| Morgan Stanley | Michael Cyprys | $437 | $435.77 | -10.9% | Apr 9, 2024 |
| Piper Sandler | John Barnidge | $392 | $428.89 | -20.1% | Apr 5, 2024 |
| Morgan Stanley | Analyst unavailable | $345 | $320.45 | -29.7% | Jan 10, 2023 |
| UBS | Analyst unavailable | $370 | $324.71 | -24.6% | Jan 9, 2023 |
| Goldman Sachs | Analyst unavailable | $330 | $332.97 | -32.7% | Nov 23, 2022 |
| Morgan Stanley | Analyst unavailable | $340 | $316.94 | -30.7% | Nov 17, 2022 |
| Piper Sandler | Analyst unavailable | $220 | $223.12 | -55.2% | Jul 15, 2022 |
| Piper Sandler | Analyst unavailable | $231 | $238.27 | -52.9% | Jul 8, 2022 |
| Piper Sandler | John Barnidge | $253 | $235.1 | -48.4% | Jun 21, 2022 |
| Piper Sandler | Analyst unavailable | $275 | $274.33 | -43.9% | May 27, 2022 |
| UBS | Analyst unavailable | $350 | $267.4 | -28.7% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $330 | $280.96 | -32.7% | Apr 26, 2022 |
| Jefferies | Suneet Kamath | $350 | $293.04 | -28.7% | Apr 9, 2022 |
| Piper Sandler | John Barnidge | $310 | $292.26 | -36.8% | Apr 6, 2022 |
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Start freeCompany context
Snapshot as of publicationAmeriprise Financial, Inc. is a holding company, which engages in providing financial planning, asset management, and insurance services to individuals, businesses, and institutions. It operates through the following business segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other. The Advice & Wealth Management segment consists of financial planning and advice, as well as full-service brokerage services for retail clients through financial advisors.…
Historical context
All AMP earningsFinancial Services peers this season
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| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-07T21:40:42.074692+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T21:40:42.071400+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.