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We issued an updated research report on Ameriprise Financial, Inc. (AMP - Analyst Report) on Jun 19, 2014. The company’s better-than-expected first-quarter 2014 results released on Apr 28, considerable organic growth prospects and efficient capital deployment activities seem impressive. However, elevated expenses and an overall subdued economic scenario keep us apprehensive

Besides maintaining a well-diversified portfolio, Ameriprise continues to mold its products and service offering to meet wide-ranging client needs. Going forward, we believe that new products along with the existing will assist further revenue growth.

Ameriprise’s operating earnings per share outpaced the Zacks Consensus Estimate by 9.1%, and increased 28.3% year over year. Results were driven by top-line growth partly offset by higher expenses.

Moreover, following Ameriprise’s strong first-quarter results, the Zacks Consensus Estimate for 2014 climbed 3.8% to $8.26 per share over the last 60 days. For 2015, the Zacks Consensus Estimate advanced 3.1% to $9.37 per share over the same time period.

Despite the positives, rising expenses pose as a major challenge for Ameriprise. As the company continues to invest in advertising campaigns and technology upgrades, expenses will mount in the forthcoming quarters.

Currently, Ameriprise has a Zacks Rank #2 (Buy).

Stocks That Warrant a Look

Other investment managers worth considering include Woori Finance Holdings Co., Ltd. (WF), Artisan Partners Asset Management Inc. (APAM - Snapshot Report) and BlackRock, Inc. (BLK - Analyst Report). While Woori Finance Holdings sports a Zacks Rank #1 (Strong Buy), Artisan Partners Asset Management and BlackRock hold the same Zacks Rank as Ameriprise.

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