$AMP · AMERIPRISE FINANCIAL INC
Ameriprise Financial reported Q3 2026 GAAP diluted EPS of $12.32 on net income of $1.126B, with adjusted operating EPS of $11.26 (+14% YoY). Total AUM, administration and advisement grew 8% to $1.8 trillion. The company announced a new $5.5B share repurchase authorization and highlighted the onboarding of 258 Huntington Bank advisors with $28B in client assets transitioning through early 2027.
- GAAP diluted EPS $12.32 vs $9.33 a year ago, driven by asset growth and favorable market impacts on derivatives and MRBs.
- Adjusted operating EPS $11.26, up 14% YoY; excluding unlocking, adjusted EPS $12.07, up 22% YoY.
- Total AUM, administration and advisement reached $1.8 trillion, up 8% YoY.
- New $5.5 billion share repurchase authorization through September 30, 2028; $1.0B+ returned to shareholders in Q3.
- Advice & Wealth Management pretax adjusted operating earnings rose 12% to $989M; Asset Management up 18% to $308M; R&PS ex-unlocking down 1% to $198M.
Extended-hours trading shows AMP at $480.09, down 2.00% vs the regular close of $489.88. The decline suggests the market is weighing mixed segment results — particularly Retirement & Protection Solutions pretax adjusted earnings down 39% including unlocking — against the headline EPS beat and large buyback authorization.
Ameriprise delivered double-digit EPS growth and a massive $5.5B buyback, but after-hours selling suggests concern over segment-level weakness in Retirement & Protection Solutions and persistent Asset Management outflows.
Ameriprise's 55.3% adjusted operating ROE (ex-AOCI) remains among the highest in wealth management. The Huntington Bank advisor transition ($28B in client assets) and $5.5B buyback signal continued consolidation and capital-return capacity that peers struggle to match.
Retirement & Protection Solutions pretax adjusted operating earnings fell 39% YoY to $132M including a $66M unfavorable unlocking impact. Asset Management saw $9.3B in net outflows, with institutional outflows of $5.5B tied to client asset allocation decisions. Total client net flows in AWM were negative $8.5B, though excluding Comerica they were positive $5.3B.