Ameriprise Financial said total AUM rose $126.1 billion, or 13%, year over year to $1.1 trillion as of March 31, 2024, and total AUA rose $63.2 billion, or 27%, to $297.5 billion.

1. 01

   Ameriprise Financial said total AUM rose $126.1 billion, or 13%, year over year to $1.1 trillion as of March 31, 2024, and total AUA rose $63.2 billion, or 27%, to $297.5 billion.

2. 02

   The company said management and financial advice fees rose $262 million, or 12%, from the prior year in Q1 2024, net investment income rose $203 million, or 29%, and distribution fees fell $11 million, or 2%.

3. 03

   The company said pretax income rose $723 million from the prior-year quarter in Q1 2024. It said the market impact on non-traditional long-duration products, net of hedges and the reinsurance accrual, was a benefit of $140 million. The prior-year period had an expense of $475 million.

4. 04

   The company said operating cash flow rose $388 million from the prior year to $1.4 billion in Q1 2024. It also said it paid a regular dividend of $143 million and repurchased 1.2 million shares at an average price of $409.96.

Key figures

Quarter ended March 31, 2024

Revenue

$4.3B

Net income

$990M

EPS

$9.46

Operating cash flow

$1.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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