Analyst Consensus ?
ConsensusHold22 ratings
Bullish1045.5%
Neutral1045.4%
Bearish29.1%
Ameriprise Financial, Inc. · AMP · FY2026 Q2 · Calendar Q3 2026
Ameriprise Q2 2026: Revenue Up 13%, EPS Beats on Record AUM and AI-Driven Productivity
Ameriprise Financial delivered a strong Q2 2026, with revenue up 13% to $5 billion and EPS up 22% to $11.07, beating consensus on both lines. Revenue growth accelerated from 11% in Q1, and EPS year-over-year growth quickened from 19% to 22%. AUM reached a record $1.8 trillion, up 14%, while wrap asset growth accelerated to 19% from 16% the prior quarter. AI-driven adviser tools are now quantifiably saving 30+ hours per week, and the back-office transformation is expected to complete by end of Q3 2026. The near-term headwind from Comerica adviser outflows (~$19 billion by Q3) is expected to be offset by the Huntington Bank onboarding (260 advisers, $28 billion in assets) in Q4 or early 2027. Management remains confident in technology investment, banking expansion, and capital return.
Reported Before market openNYSEFinancial Services
$49.14B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$11.07
Consensus $10.81
EPS surprise
+2.4%
Reported versus consensus
Reported revenue
$5.01B
Consensus $4.87B
Revenue surprise
+3.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.3%
Event window
SPY move
-1.2%
Same window
Abnormal move
-0.0%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
+3.9%
Up to 20 sessions
AMPSPY benchmark
Ask FN2 about AMP FY2026 Q2
Transcript, numbers and history already loaded
Why did AMP fall 1.3% after beating EPS estimates in FY2026 Q2?What changed in AMP's guidance and outlook in FY2026 Q2?Give me the bull and bear case for AMP after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Revenue growth accelerated to 13% YoY (from 11% in Q1), reaching $5 billion and beating the $4.87 billion consensus by 3%. EPS of $11.07 beat the $10.81 estimate by 2.4%; year-over-year EPS growth quickened to 22% from 19% in Q1. AUM reached a record $1.8 trillion, up from $1.7 trillion in Q1, with year-over-year growth accelerating to 14% from 12%. Wrap asset growth accelerated to 19% from 16% in the prior quarter. AI adviser tools (e-meeting automation, meeting summarization) are now saving advisers 30+ hours per week, a quantified gain not disclosed in Q1. Back-office transformation timeline narrowed to completion by end of Q3 2026. Comerica outflows were quantified at approximately $19 billion by Q3, providing more specificity than the prior quarter.
Guidance delta
No formal forward guidance was provided, consistent with prior quarters. However, management indicated the back-office outsourcing transformation will be completed by end of Q3 2026, the Huntington Bank onboarding (260 advisers, $28 billion in assets) is slated for Q4 or early 2027, and Comerica adviser outflows are expected to total approximately $19 billion by Q3.
Key takeaways
- Revenue and EPS delivered double-digit growth with a strong fee and transaction mix.
- Record $1.8 trillion in AUM and 19% wrap asset growth reflect solid organic inflows.
- AI integration is driving significant adviser productivity gains, saving 30+ hours per week.
- Comerica adviser outflows are a near-term headwind; the Huntington Bank onboarding is expected to offset them.
- Recruiting remains aggressive, but management expects long-term profitability from new advisers.
Management priorities
- Complete back-office outsourcing transformation by end of Q3 2026
- Onboard Huntington Bank partnership (260 advisers, $28 billion in assets) in Q4 or early 2027
- Expand AI tools and adviser automation capabilities across the platform
- Launch active premium income ETFs and expand separately managed accounts
- Grow banking franchise with HELOCs, checking accounts, and pledge lending
- Grow remote advisory and succession programs
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$492.85Previous close
$330Low
$509.11Average
$645High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 28, 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 |
|---|---|---|---|---|
| B of A Securities | Underperform | Buy | Downgrade | Oct 19, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Oct 9, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 7, 2026 |
| 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 |
| 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 |
| 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 previous close $492.85. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $483 | $499.08 | -2.0% | Oct 9, 2026 |
| Capital One Financial | Brennan Hawken | $520 | $496.67 | +5.5% | Oct 6, 2026 |
| Raymond James | Analyst unavailable | $570 | $490.91 | +15.7% | Oct 5, 2026 |
| Raymond James | Analyst unavailable | $638 | $558.26 | +29.5% | Aug 21, 2026 |
| Piper Sandler | Analyst unavailable | $518 | $506.76 | +5.1% | Jul 13, 2026 |
| Morgan Stanley | Michael Cyprys | $489 | $506.62 | -0.8% | Jul 10, 2026 |
| Jefferies | Suneet Kamath | $645 | $500.16 | +30.9% | Jul 10, 2026 |
| Piper Sandler | Crispin Love | $471 | $467.19 | -4.4% | May 4, 2026 |
| Morgan Stanley | Analyst unavailable | $467 | $479.63 | -5.2% | Apr 30, 2026 |
| BMO Capital | Brennan Hawken | $490 | $455.71 | -0.6% | Apr 24, 2026 |
| RBC Capital | Analyst unavailable | $560 | $456.59 | +13.6% | Apr 21, 2026 |
| Morgan Stanley | Analyst unavailable | $452 | $441.86 | -8.3% | Apr 10, 2026 |
| Raymond James | Wilma Burdis | $582 | $488.19 | +18.1% | Feb 11, 2026 |
| RBC Capital | Kenneth Lee | $605 | $529.47 | +22.8% | Feb 2, 2026 |
| Piper Sandler | John Barnidge | $530 | $521.36 | +7.5% | Jan 29, 2026 |
| Morgan Stanley | Analyst unavailable | $485 | $489.17 | -1.6% | Dec 22, 2025 |
| Evercore ISI | Analyst unavailable | $570 | $490.17 | +15.7% | Oct 9, 2025 |
| Morgan Stanley | Analyst unavailable | $484 | $486.62 | -1.8% | Oct 1, 2025 |
| Morgan Stanley | Michael Cyprys | $462 | $519.55 | -6.3% | May 15, 2025 |
| Morgan Stanley | Michael Cyprys | $509 | $514.04 | +3.3% | Oct 30, 2024 |
| Goldman Sachs | Alexander Blostein | $476 | $463.09 | -3.4% | Sep 25, 2024 |
| RBC Capital | Kenneth Lee | $500 | $432.05 | +1.5% | Jul 30, 2024 |
| UBS | Brennan Hawken | $495 | $429.25 | +0.4% | Jul 9, 2024 |
| Argus Research | Kevin Heal | $460 | $418.95 | -6.7% | May 6, 2024 |
| Morgan Stanley | Michael Cyprys | $445 | $412.86 | -9.7% | Apr 24, 2024 |
| Morgan Stanley | Michael Cyprys | $437 | $435.77 | -11.3% | Apr 9, 2024 |
| Piper Sandler | John Barnidge | $392 | $428.89 | -20.5% | Apr 5, 2024 |
| Morgan Stanley | Analyst unavailable | $345 | $320.45 | -30.0% | Jan 10, 2023 |
| UBS | Analyst unavailable | $370 | $324.71 | -24.9% | Jan 9, 2023 |
| Goldman Sachs | Analyst unavailable | $330 | $332.97 | -33.0% | Nov 23, 2022 |
| Morgan Stanley | Analyst unavailable | $340 | $316.94 | -31.0% | Nov 17, 2022 |
| Piper Sandler | Analyst unavailable | $220 | $223.12 | -55.4% | Jul 15, 2022 |
| Piper Sandler | Analyst unavailable | $231 | $238.27 | -53.1% | Jul 8, 2022 |
| Piper Sandler | John Barnidge | $253 | $235.1 | -48.7% | Jun 21, 2022 |
| Piper Sandler | Analyst unavailable | $275 | $274.33 | -44.2% | May 27, 2022 |
| UBS | Analyst unavailable | $350 | $267.4 | -29.0% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $330 | $280.96 | -33.0% | Apr 26, 2022 |
| Jefferies | Suneet Kamath | $350 | $293.04 | -29.0% | Apr 9, 2022 |
| Piper Sandler | John Barnidge | $310 | $292.26 | -37.1% | 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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|---|---|---|---|---|
| ARCC Ares Capital Corporation | FY2026 Q3 · Calendar Q4 2026 | -3.4% | -0.5% | ARCC: MFIC Deal Expands Scale as Origination Slows |
| HOOD Robinhood Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +7.5% | +1.9% | Robinhood posts record Q3 as products and deposits scale |
| V Visa Inc. | FY2026 Q4 · Calendar Q4 2026 | +1.2% | -0.6% | Visa reports strong FY2026 growth as tokenization expands |
| IVZ Invesco Ltd. | FY2026 Q3 · Calendar Q4 2026 | -2.7% | -0.4% | Invesco: strong inflows and margin expansion, with mix pressure |
| SHG Shinhan Financial Group Co., Ltd. | FY2026 Q3 · Calendar Q4 2026 | -4.5% | -1.4% | Shinhan Q3 Profit Falls as Fees Drop; Buyback Expands |
| LPLA LPL Financial Holdings Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.5% | +0.1% | LPL posts record EPS as Commonwealth and Cyan remain key priorities |
Latest beats and misses
Who reports nextBeat on EPS
- HOODFY2026 Q3 · October 27, 2026+7.5% EPS+1.9% move
- PCARFY2026 Q3 · October 27, 20260.0% EPS-0.6% move
- VFY2026 Q4 · October 27, 2026+1.2% EPS-0.6% move
- FCXFY2026 Q3 · October 27, 2026+8.0% EPS+1.2% move
- HUBBFY2026 Q3 · October 27, 2026+2.8% EPS-5.5% move
- RCLFY2026 Q3 · October 27, 2026+3.0% EPS+5.5% move
Missed on EPS
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
- AREFY2026 Q3 · October 26, 2026-13401.8% EPS-5.9% move
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Sources
- Earnings call transcript and parsed analysis · 2026-07-23T18:04:38.725068+00:00
- FN2 earnings calendar · 2026-07-29T01:23:15.868211+00:00
- Polygon adjusted daily market bars · 2026-07-29T23:52:12.340166+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T23:52:12.337275+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 2026-07-29. For educational purposes only; not investment advice.