Upside case
Bull case
$826+73.7%
AMP would need investors to value it at roughly 19x earnings — about 8x more generous than today's 11x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Ameriprise Financial, Inc. (AMP) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
22
analysts
11 bullish · 1 bearish · 22 covering AMP
Strong Buy
1
Buy
10
Hold
10
Sell
1
Strong Sell
0
Consensus Target
$526
+10.6% vs today
Scenario Range
$335 – $826
Model bear to bull value window
Coverage
22
Published analyst ratings
Valuation Context
10.8x
Forward P/E · Market cap $45.8B
AMP price targets
Three scenarios for where AMP stock could go
Current
~$475
Confidence
61 / 100
Updated
May 1, 2026
Where we are now
Current · $475
Bear
$335
Base
$600
Bull
$826
Market caseClosest to today
Base case
$600+26.2%
At 14x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$335-29.5%
If investor confidence fades or macro conditions deteriorate, a 3x multiple contraction could push AMP down roughly 29% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Ameriprise Financial, Inc.
AMP · NYSEFinancial ServicesAsset ManagementDecember year-end
Ameriprise Financial is a diversified financial services company that provides wealth management, asset management, and retirement planning solutions to individual and institutional clients. It generates revenue primarily through fee-based advisory services (Advice & Wealth Management, ~60% of revenue), asset management fees, and insurance/annuity premiums. The company's competitive advantage lies in its integrated financial planning model—combining advice, products, and asset management—which creates sticky client relationships and cross-selling opportunities.
Market Cap
$45.8B
Net Income TTM
$3.6B
AMP Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
+1.9%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$9.11/$9.00
Revenue
$4.4B/$4.3B
Q4 2025
EPS
$9.92/$9.77
Revenue
$4.9B/$4.6B
Q1 2026
EPS
$10.83/$10.34
Revenue
$5.0B/$4.8B
Q2 2026
EPS
$11.26/$10.21
Revenue
$4.9B/$4.7B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $9.11/$9.00 | +1.2% | $4.4B/$4.3B | +0.8% |
| Q4 2025 | $9.92/$9.77 | +1.5% | $4.9B/$4.6B | +6.0% |
| Q1 2026 | $10.83/$10.34 | +4.7% | $5.0B/$4.8B | +3.9% |
| Q2 2026 | $11.26/$10.21 | +10.3% | $4.9B/$4.7B | +3.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$19.8B
+4.5% YoY
FY2
$20.8B
+5.1% YoY
EPS Outlook
FY1
$41.88
+13.2% YoY
FY2
$45.88
+9.6% YoY
Trailing FCF (TTM)$2.9B
Next Earnings
—
Expected EPS
—
Expected Revenue
—
AMP beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
AMP Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $19.7B
Product Mix
Latest annual revenue by segment or product family
Advice and Wealth Management
61.6%
+6.4% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Advice and Wealth Management is the largest disclosed segment at 61.6% of FY 2025 revenue, up 6.4% YoY.
AMP Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $467 — implies -0.1% from today's price.
Premium to Fair Value
0.1%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
AMP
13.1x
vs
S&P 500
25.2x
48% discount
vs Financial Services Trailing P/E
AMP
13.1x
vs
Financial Services
13.4x
In line with benchmark
vs AMP 5Y Avg P/E
Today
13.1x
vs
5Y Average
13.5x
In line with benchmark
Forward PE
10.8x
S&P 500
19.1x
-43%
Financial Services
10.5x
+3%
5Y Avg
—
—
Trailing PE
13.1x
S&P 500
25.2x
-48%
Financial Services
13.4x
-2%
5Y Avg
13.5x
-3%
PEG Ratio
0.54x
S&P 500
1.75x
-69%
Financial Services
1.03x
-48%
5Y Avg
—
—
EV/EBITDA
8.2x
S&P 500
15.3x
-46%
Financial Services
11.4x
-28%
5Y Avg
9.3x
-11%
Price/FCF
15.8x
S&P 500
21.3x
-26%
Financial Services
10.6x
+49%
5Y Avg
10.7x
+48%
Price/Sales
2.4x
S&P 500
3.1x
-23%
Financial Services
2.3x
+7%
5Y Avg
2.6x
-9%
Dividend Yield
6.61%
S&P 500
1.88%
+252%
Financial Services
2.68%
+146%
5Y Avg
2.34%
+182%
| Metric | AMP | S&P 500 | Financial Services | 5Y Avg AMP |
|---|---|---|---|---|
| Forward PE | 10.8x | 19.1x-43% | 10.5x | — |
| Trailing PE | 13.1x | 25.2x-48% | 13.4x | 13.5x |
| PEG Ratio | 0.54x | 1.75x-69% | 1.03x-48% | — |
| EV/EBITDA | 8.2x | 15.3x-46% | 11.4x-28% | 9.3x-11% |
| Price/FCF | 15.8x | 21.3x-26% | 10.6x+49% | 10.7x+48% |
| Price/Sales | 2.4x | 3.1x-23% | 2.3x | 2.6x |
| Dividend Yield | 6.61% | 1.88% | 2.68% | 2.34% |
AMP trades above S&P 500 benchmarks on 0 of 6 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolAMP Financial Health
Verdict
Exceptional
AMP generates 58.1% ROE and 1.9% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
—
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
—
Net Margin
Net income divided by revenue
—
EPS (TTM)
Diluted earnings per share, trailing twelve months
$37.00
ROE
Return on equity — the primary profitability signal for banks
58.1%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
31.3%
ROA
Return on assets, trailing twelve months
1.9%
Cash & Equivalents
Liquid assets on the balance sheet
$10.1B
Net Cash
Cash exceeds total debt — no net leverage
$4.2B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
58.1%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
11.3%
Dividend
6.6%
Buyback
4.6%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$2.1B
Dividend / Share
Annualized trailing dividend per share
$31.41
Payout Ratio
Share of earnings distributed as dividends
84.9%
Shares Outstanding
Declining as buybacks retire shares
96M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageAMP Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Regulatory & Legal Exposure
AMP Limited is embroiled in at least five, potentially up to fifty, legal matters stemming from the Royal Commission and ASIC investigations. These proceedings carry civil and criminal penalties and could damage the firm’s reputation, directly impacting earnings and shareholder value.
High Risk
Market Volatility Impact
During market dislocations, AMP’s fund values contracted an average of 28%, compared with a 16% decline for the S&P 500. Such outsized losses can erode capital, reduce fee income, and trigger client redemptions.
High Risk
Bankruptcy Risk
Analysts estimate an 8.5% probability that Ameriprise Financial (AMP) will file for bankruptcy within the next 24 months. A bankruptcy event would lead to significant asset write‑downs, loss of client trust, and potential liquidation costs.
High Risk
Growth & Demand Scare
AMP’s worst‑case scenarios are linked to “Growth & Demand Scare” events, which historically precipitate sharp declines in asset‑management fees and client inflows. A sudden slowdown in economic growth could trigger a cascading reduction in revenue.
High Risk
Interest Rate Sensitivity
AMP’s income is heavily dependent on interest‑rate spreads. A decline in rates compresses spreads, prompting clients to shift capital into money‑market funds or CDs, thereby reducing fee income and profitability.
Medium
Systemic Risk Exposure
AMP faces the risk of widespread market disruptions, such as a global financial crisis, which could simultaneously affect multiple asset classes and liquidity. Such events could impair the firm’s ability to meet client redemptions and maintain capital adequacy.
Medium
Currency Risk
International investments expose AMP to foreign‑exchange fluctuations. Adverse currency movements can erode portfolio returns and increase volatility, affecting fee income and client confidence.
Medium
Liquidity Risk
AMP may encounter difficulty selling assets without incurring losses relative to fair value. Liquidity constraints can force the firm to liquidate positions at unfavorable prices, impacting performance and client withdrawals.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why AMP Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
30% YoY Growth in Adjusted Operating EPS
Ameriprise reported a 30% year‑over‑year increase in adjusted operating earnings per diluted share in Q2, reflecting stronger fee income and cost efficiencies. This momentum underpins the company’s earnings trajectory and supports continued upside.
$1.3 Trillion AUM Driven by Inflows
Assets under management reached $1.3 trillion, buoyed by market performance and net client inflows. The scale of AUM positions Ameriprise to capture fee growth and cross‑sell advisory services.
Robust Share Repurchase & Dividend Policy
The firm announced a new $3.5 billion share‑repurchase authorization through September 2025 and has consistently repurchased shares, while maintaining a dividend‑growth streak. This disciplined capital allocation signals confidence in cash flow and returns to shareholders.
Wealth Management as Primary Growth Engine
The Advice & Wealth Management segment is the company’s primary growth engine, contributing a substantial portion of operating income. Its market opportunity and client base expansion drive revenue and earnings growth.
Strong Historical Total Returns
Ameriprise has delivered average annual total returns of 15.28% over five years and 19.16% over ten years, underscoring its ability to generate value for investors across multiple cycles.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
AMP Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$475.29
52W Range Position
41%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$422.37
+12.5% from the low
52-Week High
$550.18
-13.6% from the high
1 Month
+10.43%
3 Month
-12.47%
YTD
-3.7%
1 Year
-0.1%
3Y CAGR
+17.4%
5Y CAGR
+12.5%
10Y CAGR
+17.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
AMP vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
10.8x
vs 7.4x median
+46% above peer median
Revenue Growth
+4.5%
vs +6.3% median
-28% below peer median
Net Margin
—
vs 5.6% median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
AMP AMP Ameriprise Financial, Inc. | $45.8B | 10.8x | +4.5% | — | Buy | +10.6% |
LNC LNC Lincoln National Corporation | $6.4B | 4.9x | +21.9% | 11.4% | Hold | +15.6% |
PFG PFG Principal Financial Group, Inc. | $22.0B | 10.9x | -0.3% | 7.6% | Hold | -6.9% |
EQH EQH Equitable Holdings, Inc. | $12.3B | 6.1x | +9.5% | -12.6% | Buy | +35.3% |
PRU PRU Prudential Financial, Inc. | $34.9B | 7.4x | -5.9% | 5.6% | Hold | +4.0% |
MET MET MetLife, Inc. | $52.3B | 8.2x | +6.3% | 4.4% | Buy | +20.4% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
AMP Dividend and Capital Return
AMP returns 11.3% total yield, led by a 6.61% dividend, raised 20 consecutive years. Buybacks add another 4.6%.
Dividend WatchFCF Stretched
Total Shareholder Yield
11.3%
Dividend + buyback return per year
Buyback Yield
4.6%
Dividend Yield
6.61%
Payout Ratio
84.9%
How AMP Splits Its Return
Div 6.61%
Buyback 4.6%
Dividend 6.61%Buybacks 4.6%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$31.41
Growth Streak
Consecutive years of dividend increases
20Y
3Y Div CAGR
8.8%
5Y Div CAGR
9.0%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$2.1B
Estimated Shares Retired
4M
Approx. Share Reduction
4.6%
Shares Outstanding
Current diluted share count from the screening snapshot
96M
At 4.6%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $3.30 | — | — | — |
| 2025 | $6.28 | +8.5% | 4.5% | 10.9% |
| 2024 | $5.79 | +9.2% | 4.5% | 5.5% |
| 2023 | $5.30 | +8.6% | 5.2% | 6.5% |
| 2022 | $4.88 | +10.2% | 5.6% | 7.1% |
FAQ
7 questionsAMP Investor Questions
Common questions answered from live analyst data and company financials.
01Is Ameriprise Financial, Inc. (AMP) stock a buy or sell in 2026?
Ameriprise Financial, Inc. (AMP) is rated Buy by Wall Street analysts as of 2026. Of 22 analysts covering the stock, 11 rate it Buy or Strong Buy, 10 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $526, implying +10.6% from the current price of $475. The bear case scenario is $335 and the bull case is $826.
02What is the AMP stock price target for 2026?
The Wall Street consensus price target for AMP is $526 based on 22 analyst estimates. The high-end target is $582 (+22.5% from today), and the low-end target is $467 (-1.7%). The base case model target is $600.
03Is Ameriprise Financial, Inc. (AMP) stock overvalued in 2026?
AMP trades at 10.8x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Ameriprise Financial, Inc. (AMP) stock in 2026?
The primary risks for AMP in 2026 are: (1) Regulatory & Legal Exposure — AMP Limited is embroiled in at least five, potentially up to fifty, legal matters stemming from the Royal Commission and ASIC investigations. (2) Market Volatility Impact — During market dislocations, AMP’s fund values contracted an average of 28%, compared with a 16% decline for the S&P 500. (3) Bankruptcy Risk — Analysts estimate an 8. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Ameriprise Financial, Inc.'s revenue and earnings forecast?
Analyst consensus estimates AMP will report consensus revenue of $19.8B (+4.5% year-over-year) and EPS of $41.88 (+13.2% year-over-year) for the upcoming fiscal year. The following year, analysts project $20.8B in revenue.
06When does Ameriprise Financial, Inc. (AMP) report its next earnings?
A confirmed upcoming earnings date for AMP is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Ameriprise Financial, Inc. generate?
Ameriprise Financial, Inc. (AMP) generated $2.9B in free cash flow over the trailing twelve months. AMP returns capital to shareholders through dividends (6.6% yield) and share repurchases ($2.1B TTM).