Summary
Ameriprise Financial, Inc. (AMP) reported strong financial performance for the fiscal year ending December 31, 2018. The company demonstrated a significant increase in pretax income, driven by growth in its Advice & Wealth Management segment and improved market conditions. Total net revenues saw a healthy increase, supported by higher management and financial advice fees, as well as distribution fees, reflecting growth in assets under management and administration. The company's strategy continues to focus on its core capabilities in wealth management and asset management, with a strategic shift towards lower capital, fee-based businesses. This diversification, combined with a robust advisor network and a client-centric approach through its 'Confident Retirement' strategy, positions Ameriprise for continued success. The company also actively manages its capital through share repurchases and dividend payments, returning value to shareholders while investing in future growth initiatives.
Financial Highlights
37 data points| Revenue | $12.92B |
| Operating Expenses | $10.35B |
| Net Income | $2.10B |
| EPS (Basic) | $14.41 |
| EPS (Diluted) | $14.20 |
| Shares Outstanding (Basic) | 145.60M |
| Shares Outstanding (Diluted) | 147.70M |
Key Highlights
- 1Total net revenues increased by 6% to $12.835 billion for the year ended December 31, 2018.
- 2Pretax income increased by 12% to $2.484 billion for the year ended December 31, 2018.
- 3Assets under management and administration (AUM and AUA) totaled $822.7 billion as of December 31, 2018.
- 4The Advice & Wealth Management segment saw a 19% increase in adjusted operating earnings, driven by net inflows and market appreciation.
- 5Ameriprise Financial returned $2.7 billion in cash dividends or return of capital from its subsidiaries to the parent holding company in 2018.
- 6The company repurchased 11.3 million shares of common stock for approximately $1.6 billion in 2018.