Ameriprise was founded in 1894 and is headquartered in Minneapolis, US. It provides financial planning, asset management, insurance and investment products and services to individuals and institutions. Its offerings include personalized advice, wealth management, annuity products and protection solutions. The company operates through four segments including Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.

Expanding advisory reach

On October 28, 2025, Ameriprise announced the joining of The Atlantic Group, a Boca Raton-based firm managing over $1.6bn in client assets, in its branch channel from Oppenheimer & Co. Inc. This 16-member team brings deep client relations and client-first approach, enhancing Ameriprise's advisory capabilities and competitive edge, particularly in Boca Raton, Florida region. Integrating Atlantic's competencies with Ameriprise's top-notch advanced planning tools and integrated platforms could improve client experience and retention rates.

Consistent growth

Ameriprise maintained steady performance over FY 21-24, achieving a revenue CAGR of 10.2%, reaching $17.9bn in FY 24, driven by robust wealth management performance and increased assets under advisement. EBIT rose at a CAGR of 10.0% to $6.5bn, with margins expanding by 490bp to 36.0%.

Over FY 21-24, FCF transitioned from an outflow of $5.8bn to an inflow of $3.8bn, supported by doubling cash inflow from operations, rising from $3.3bn to $6.6bn. In addition, ROE rose from 47.8% to 68.3%.

Over Q3 25, Ameriprise experienced asset growth facilitating decent revenue growth, with assets under management, administration, and advisement rising by 8.0% y/y to $1.7tn. Operating margin expanded by 316bp, on account of expense discipline.

In comparison, T. Rowe Price Group, Inc., a local peer, posted a lower revenue CAGR of -2.6%, reaching $7.1bn over FY 21-24. EBIT declined at a CAGR of -14.4% to $2.4bn. Consequently, its margin contracted from 48.8% to 33.1%.

Positive outlook

Over the past year, the company paid an annual dividend of $5.8, resulting in a dividend yield of 1.1%.

Ameriprise is currently trading at P/E of 12.4x, based on the FY 25 estimated EPS of $35.6, which is lower than its 3-year historical average of 15.3x but higher than T. Rowe Price (10.0x). The company is currently trading at an EV/EBIT of 6.4x, based on the FY 25 estimated EBIT of $4.8bn, which is lower than its 3-year historical average of 9.3x and T. Rowe Price Group (6.8x).

The stock is monitored by 12 analysts, with six having 'Buy' ratings and six having 'Hold' ratings for a target price of $533.2, reflecting 21% upside potential over its current market price.

Aalysts' views are supported by an estimated revenue CAGR of 5.7%, reaching $20.1bn over FY 24-27. EBIT is expected to rise at a CAGR of 5.5% to $5.2bn with a margin of 25.9% in FY 27. In addition, analysts estimate a net profit CAGR of 4.6% to $3.9bn. In comparison, for T. Rowe Price, analysts estimate an EBIT CAGR of 1.6% and a net profit CAGR of 7.2% over FY 24-27.

Overall, Ameriprise demonstrated strong operational execution and effective strategy through consistent expansion and targeted investments. Looking ahead, the company remains well positioned for continued growth and industry leadership. However, it could face risks from evolving regulatory requirements and adverse market conditions impacting asset valuations and client sentiment.