At a glance
Ameriprise Financial Inc is worth $43.78B, about 14 times its fiscal 2025 earnings. Revenue grew 5.5% to $18.91B in fiscal 2025, with 18.8% kept as profit; over 5 years it has grown 9.6% a year. It pays a 1.31% dividend yield, raised every year for at least 9 years, and returned $14.26B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +12.9% over the past year with dividends reinvested and +12.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.9% in the 2020 crash (S&P 500: 33.7%) and 31.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 4 months after the lows.
The business in plain English
Ameriprise Financial is a financial advice, asset management and insurance company whose roots date to 1894. It was once part of American Express and became a separate company in 2005. More than 10,000 advisors provide financial planning to more than 3.5 million individual clients. Its main target is households with $500,000 to $5 million to invest. The largest group of advisors work as independent franchisees under the Ameriprise name. Others are employees or work inside regional banks and credit unions.
Fees tied to the value of client assets are its biggest source of revenue. In the year ended December 31, 2025, management and financial advice fees made up about 59% of $18.9 billion in revenue. Insurance and annuities added about 8%, mutual fund distribution fees about 6%, and financial planning fees about 3%. Because so much revenue tracks asset values, it rises and falls with markets and with client deposits and withdrawals.
Ameriprise reports four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other. Columbia Threadneedle Investments, the fund arm, sells mainly through other firms and has traditional strengths in the US and UK. RiverSource provides annuities and life and disability income insurance. Ameriprise also offers savings accounts, mortgages and credit cards. Client assets it manages, administers or advises on totaled $1.7 trillion as of December 31, 2025.
Price history
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AMP +12.9% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Management and financial advice fees | $11.11B | 58.7% |
| Asset Management: Retail | $2.17B | 11.5% |
| Insurance and annuity | $1.54B | 8.1% |
| Distribution Service, Mutual Funds | $1.12B | 5.9% |
| Asset Management: Institutional | $671.0M | 3.5% |
| Transaction and other fees | $660.0M | 3.5% |
| Financial planning fees | $496.0M | 2.6% |
| Other products | $484.0M | 2.6% |
| Other revenues | $297.0M | 1.6% |
| Off-balance sheet brokerage cash | $102.0M | 0.5% |
| Asset Management: Model delivery | $95.0M | 0.5% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $5.19B, up 6.1% from a year earlier, and net income was $1.13B (+23.5%).
- For fiscal 2025, revenue was $18.91B (+5.5% year over year; +9.6% a year from FY2020 to FY2025) with a 18.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +9.6% good |
|---|---|
| Free cash flow margin | 43.2% good |
| Return on equity (FY2025) | 54.4% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2025) | 1.9% weak |
| Cash and investments | $10.07B (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $11.96B | $1.53B | $4.48B |
| FY2021 | $13.39B | $3.42B | $3.21B |
| FY2022 | $14.33B | $3.15B | $4.22B |
| FY2023 | $16.10B | $2.56B | $4.50B |
| FY2024 | $17.93B | $3.40B | $6.42B |
| FY2025 | $18.91B | $3.56B | $8.16B |
Valuation snapshot
| Market value | $43.78B |
|---|---|
| P/E ratio | 13.9 |
| Dividend yield | 1.31% |
Rank among 1514 US companies
Market value at each year end
Ameriprise Financial’s market value went from $17.53B at the end of 2016 to $43.78B on Nov 2, 2026, about 2.5 times as much; since the end of 2025 it is down 4%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $43.78B | -3.9% |
| 2025 | $45.56B | -11.8% |
| 2024 | $51.65B | +34.4% |
| 2023 | $38.44B | +16.0% |
| 2022 | $33.14B | -1.8% |
| 2021 | $33.75B | +47.2% |
| 2020 | $22.93B | +8.6% |
| 2019 | $21.10B | +45.1% |
| 2018 | $14.54B | -42.0% |
| 2017 | $25.07B | +43.0% |
| 2016 | $17.53B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| AMP price data to Nov 2, 2026 | +3.8% | +12.9% | +16.6% | +12.0% | +21.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +3.9% |
| 2025 | -6.7% |
| 2024 | +42.1% |
| 2023 | +24.0% |
| 2022 | +5.0% |
| 2021 | +57.9% |
| 2020 | +19.8% |
| 2019 | +64.0% |
| 2018 | -36.8% |
| 2017 | +56.4% |
| 2016 | +7.7% |
| 2015 | -17.8% |
| 2014 | +17.2% |
| 2013 | +88.3% |
| 2012 | +29.5% |
| 2011 | -12.3% |
| 2010 | +50.6% |
| 2009 | +70.5% |
| 2008 | -56.9% |
| 2007 | +2.1% |
| 2006 | +34.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 78.8% over that stretch · deepest drop along the way 81.1%, back to its old high 26.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 53.7% over that stretch · deepest drop along the way 53.9%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.3% over that stretch · deepest drop along the way 31.5%, back to its old high 3.9 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 16 sales ($38.7M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 28, 2026 | James M Cracchiolo CHAIRMAN AND CEO, Director | sell | $8.8M |
| Jul 28, 2026 | Walter Stanley Berman EXECUTIVE VP AND CFO | sell | $5.8M |
| Jul 27, 2026 | William Jerryl Williams Pres, Wealth Mgmt Advisor Grp | sell | $4.2M |
| Feb 5, 2026 | Walter Stanley Berman EXECUTIVE VP AND CFO | sell | $3.8M |
| May 14, 2026 | Gerard P. Smyth EVP & Hd. of Tech. & Serv. Del | sell | $3.0M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.2% | Jun 30, 2026 |
ETFs with the most weight in AMP
| PFI Invesco Dorsey Wright Financial Momentum ETF | 5.14% |
| JMID Janus Henderson Mid Cap Growth Alpha ETF | 2.81% |
| FLCG Federated Hermes MDT Large Cap Growth ETF | 2.46% |
| FLCV Federated Hermes MDT Large Cap Value ETF | 2.17% |
| GDIV Harbor Dividend Growth Leaders ETF | 2.12% |
| IPDP Dividend Performers ETF | 1.96% |
| FLCC Federated Hermes MDT Large Cap Core ETF | 1.94% |
| ZECP Zacks Earnings Consistent Portfolio ETF | 1.79% |
What could go wrong
- Revenue moves with financial markets. Much of Ameriprise's revenue comes from fees based on the value of assets it manages or advises on. When markets fall, those assets shrink and fee revenue drops, even if no clients leave.
- Clients and advisors can leave quickly. Clients can generally leave at will or on short notice, and Columbia fund management agreements can be ended on 60 days' notice. Losing key clients or advisors has hurt revenue before.
- Weak fund results and larger rivals. If Columbia Threadneedle funds trail competitors, investors may pull money and fees fall. Larger rivals whose size lowers their costs, and new technologies, could also squeeze market share and profits.
- Insurance assumptions could prove wrong. RiverSource's profits depend on estimates of lifespans, claims and how long customers keep policies. If those prove wrong, reserves set aside for future claims may need to rise, cutting earnings.
- Dividends depend on subsidiaries and regulators. As a holding company, Ameriprise relies on its subsidiaries sending it cash to pay dividends. As a savings and loan holding company, it is supervised by the Federal Reserve, which can limit its activities.
- Interest rate changes affect earnings. Ameriprise Bank and the Ameriprise Certificate Company earn income on the investments they hold. When interest rates move, that income and the value of the company's investments can change.
Recent events
- Quarterly results released
- Quarterly results released
- Other company announcement
- Executive or board change; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released
- Executive or board change
- Quarterly results released
- Executive or board change
For income and retirement investors
Ameriprise has raised its dividend for at least nine straight years through fiscal 2025, and the true streak may be longer. Dividends per share rose from about $3.95 in fiscal 2020 to $6.07 in fiscal 2025, about 8.9% a year. The 2025 dividend used about 17% of earnings and 7% of free cash flow (cash left after running the business). The yield was 1.35% as of October 28, 2026. Buybacks return far more cash. From fiscal 2021 to 2025, the company spent $11.5 billion buying back its own shares and $2.8 billion on dividends. The share count fell about 22% between July 2021 and July 2026.
The shares lost 81% in the 2008 financial crisis and took until February 2011 to recover. They fell 54% in the 2020 COVID crash and recovered by November 2020. In 2022 they fell 32% and recovered about four months after the low. A single stock like Ameriprise carries more risk than a diversified fund.
Questions investors ask
How does Ameriprise Financial make money?
Mostly from fees tied to the value of client assets. In the year ended December 31, 2025, management and financial advice fees made up about 59% of its $18.9 billion in revenue. Other sources include insurance and annuities sold under the RiverSource brand (about 8%), mutual fund distribution fees (about 6%), transaction fees and financial planning fees. More than 10,000 advisors bring in clients. Columbia Threadneedle Investments manages funds sold mainly through other firms.
Does Ameriprise raise its dividend every year?
Yes. It has raised its dividend for at least nine straight years through fiscal 2025, and the streak may be longer. Dividends per share grew from about $3.95 in fiscal 2020 to $6.07 in fiscal 2025, roughly 8.9% a year. The 2025 dividend used about 17% of earnings. The yield was 1.35% as of October 28, 2026. From fiscal 2021 to 2025, the company spent $11.5 billion on share buybacks and $2.8 billion on dividends.
Is Ameriprise Financial part of American Express?
No. American Express spun Ameriprise off in 2005, turning it into an independent company owned directly by shareholders. Its shares trade on the New York Stock Exchange. Its roots go back to Investors Syndicate, founded in 1894. American Express bought its predecessor, IDS Financial Services, in 1983. The business sold products under the American Express name from 1994 until the spin-off.
How has Ameriprise stock performed over the long run?
It has posted large gains over 10 years, with deep drops along the way. Based on share price, Ameriprise returned about 20.9% a year over the 10 years to October 28, 2026, or 568% in total. It returned 11.7% a year over five years and 2.4% over one year. Calendar years swing widely: up 42.1% in 2024, down 6.7% in 2025 and down 56.9% in 2008. From its 2007 peak, the stock fell 81% and did not recover until February 2011.
What is Ameriprise's P/E ratio?
About 13.5 as of October 28, 2026, based on fiscal 2025 earnings of $36.28 per share. The price-to-earnings (P/E) ratio shows how many dollars investors pay for each dollar of yearly profit. On that date the company's stock market value was about $43.3 billion and its dividend yield was 1.35%. A P/E alone doesn't show whether a stock is cheap or expensive. It is worth comparing with other wealth and asset managers and with the company's own history.