Summary
Ameriprise Financial Inc. (AMP) reported strong financial performance for the fiscal year ending December 31, 2014, with total net revenues reaching $12.3 billion, a 10% increase year-over-year, primarily driven by growth in management and financial advice fees and other revenues. Net income attributable to Ameriprise Financial increased by 21% to $1.6 billion, with diluted earnings per share reaching $8.30. The company's assets under management and administration grew to $806.2 billion, reflecting market appreciation and net inflows across its Advice & Wealth Management and Asset Management segments. The filing also highlights the company's robust advisor network, strong client relationships, and commitment to capital returns to shareholders through dividends and share repurchases, with $1.8 billion remaining under its share repurchase authorization as of year-end 2014.
Financial Highlights
38 data points| Revenue | $12.30B |
| Operating Expenses | $9.72B |
| Operating Income | $1.62B |
| Net Income | $1.62B |
| EPS (Basic) | $8.45 |
| EPS (Diluted) | $8.30 |
| Shares Outstanding (Basic) | 191.60M |
| Shares Outstanding (Diluted) | 195.00M |
Key Highlights
- 1Total net revenues increased by 10% to $12.3 billion in 2014, driven by strong growth in management and financial advice fees.
- 2Net income attributable to Ameriprise Financial grew 21% to $1.6 billion, resulting in diluted EPS of $8.30.
- 3Assets under management and administration reached $806.2 billion, a 5% increase from the prior year.
- 4The Advice & Wealth Management segment saw operating earnings increase by 34% to $792 million, driven by wrap account asset growth and expense management.
- 5The Asset Management segment's operating earnings rose 14% to $788 million, primarily due to higher average assets under management.
- 6Ameriprise Financial repurchased approximately 11.8 million shares of common stock in 2014 for $1.4 billion, demonstrating a commitment to returning capital to shareholders.
- 7The company maintained strong capital levels, with insurance subsidiaries' capital well in excess of regulatory requirements.