Ameriprise Financial, Inc. reported its third-quarter 2024 financial results on October 23, 2024, with adjusted operating earnings per diluted share of $9.02, surpassing the consensus estimate of $8.92. Total adjusted operating net revenues increased 12% year-over-year to $4.56 billion, exceeding Street forecasts of $4.45 billion.
The company's assets under management and administration reached $1.5 trillion in the quarter, marking a 22% increase from the previous year. This growth was primarily driven by strong client net inflows and positive market appreciation, reflecting robust client engagement and effective wealth management strategies.
Management and financial advice fees saw a significant jump of 12.5% to $2.57 billion, while net investment income surged 15.5% to $934 million. The Board of Directors also declared a quarterly cash dividend of $1.48 per common share, payable on November 15, 2024, to shareholders of record on November 4, 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.