Ameriprise Q1 Beat Driven by Strong Margins, Capital Returns, RBC Says

MT Newswires Live04-25

Ameriprise Financial's (AMP) Q1 beat was driven by better-than-expected margins in its Advice & Wealth Management business and solid underlying flows, while maintaining a strong capital return profile, RBC Capital Markets said in a note on Friday.

The company's stronger-than-expected Q1 results were driven by better-than-expected margins in its Advice & Wealth Management segment, the investment firm said.

RBC also highlighted that wrap flows were impacted by Comerica-related advisor departures. It added that the underlying flows remained solid and the financial impact was largely offset by a make-whole payment. The firm also highlighted upcoming inflows tied to the Huntington partnership.

The brokerage raised its earnings estimates for 2026 and 2027 and cited stronger margin assumptions and updated fee rate expectations.

Management also highlighted artificial intelligence as a long-term productivity driver. Ongoing integration into advisor platforms and workflows could support future client capacity and growth over time, according to the note.

RBC reiterated its outperform rating and $560 price target.

Price: 467.38, Change: +7.75, Percent Change: +1.69

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