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Ameriprise 4Q Net Down 22% As Revenue Falls

DOW JONES NEWSWIRES Ameriprise Financial Inc.'s (AMP) fourth-quarter earnings slipped 22% as the financial-services provider reported lower revenue. The company's results have been boosted recently by its $1 billion acquisition of the Columbia Management business from Bank of America Corp. (BAC) in 2010, and by strong growth from the company's advice and wealth-management business. However, Ameriprise's third-quarter results fell as the company's annual review of insurance and annuity valuation assumptions and other impacts weighed heavily on the period. For the fourth quarter, Ameriprise reported a profit of $240 million, or $1.02 a share, down from $306 million, or $1.18 a share, a year earlier. Operating earnings, which exclude integration expenses and other items, rose to $1.33 a share from $1.31. Net revenue on the same basis fell 2.3% to $2.46 billion and was up 0.9% to $2.58 billion on a fully reported basis. Analysts polled by Thomson Reuters expected a per-share profit of $1.39 on revenue of $2.53 billion. Assets under management and administration totaled $631 billion as of Dec. 31 down from $673 billion a year earlier. The advice and wealth-management business saw revenue rise 0.7% and pretax profit decrease 19%. Shares slipped by 1 cent to $54.77 after hours. The stock is up 24% in the past three months. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Amp (AMP)
DateTimeHeadline
06/25/201517:11:11Statement of Changes in Beneficial Ownership (4)
06/24/201517:20:10Annual Report of Employee Stock Plans (11-k)
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06/22/201516:30:00Ameriprise Financial Announces Schedule for Second Quarter 2015...
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06/15/201517:03:58Statement of Changes in Beneficial Ownership (4)
06/15/201517:03:33Statement of Changes in Beneficial Ownership (4)
05/21/201516:47:31Statement of Changes in Beneficial Ownership (4)
05/21/201516:47:31Statement of Changes in Beneficial Ownership (4)
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201511:29:00Ameriprise Financial Honors Service Men and Women by Giving to...
05/17/201509:00:02Edward Jones Credit Card: Good Product, But Is It Right for You?
05/14/201515:05:15Form 13f Holdings Report (13f-hr)
05/01/201516:55:03Statement of Changes in Beneficial Ownership (4)
05/01/201516:54:37Statement of Changes in Beneficial Ownership (4)
05/01/201516:54:37Statement of Changes in Beneficial Ownership (4)
05/01/201516:54:37Statement of Changes in Beneficial Ownership (4)
05/01/201516:54:37Statement of Changes in Beneficial Ownership (4)
05/01/201516:54:11Statement of Changes in Beneficial Ownership (4)
05/01/201516:54:11Statement of Changes in Beneficial Ownership (4)

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