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Shares of Ameriprise Financial, Inc. (AMP - Free Report) hit a new 52-week high, touching $78.25 almost at the end of the trading session on May 10, 2013. The closing price of this financial holding company represents a solid year-to-date return of 21.5%. The average trading volume over the last 3 months was 1.5 million shares.

Despite hitting its 52-week high, this Zacks Rank #2 (Buy) stock has plenty of upside left given its strong estimate revisions over the last 60 days and expected year-over-year earnings growth of 18.0% for 2013.

Growth Drivers

Impressive first-quarter 2013 results – including an earnings surprise of 1.27% – and a 16% hike in its quarterly cash dividend have been the primary growth drivers.

On Apr 22, 2013, Ameriprise reported first-quarter operating earnings of $1.59 per share, marginally surpassing the Zacks Consensus Estimate of $1.57. This also rose 9.7% from the year-ago earnings of $1.45. Better-than-expected results were primarily driven by top-line improvement, partially offset by a rise in operating expenses.

Moreover, the company has delivered positive earnings surprises in the 3 of the last 4 quarters with an average beat of 1.0%.

Estimate Revisions Show Potency

Over the last 60 days, 6 out of 9 estimates for 2013 have been revised upward, lifting the Zacks Consensus Estimate by 0.9% to $6.60 per share. For 2014, 5 out of 9 estimates moved higher over the same time frame, helping the Zacks Consensus Estimate advance 0.5% to $7.65 per share.   

Other stocks that are also worth considering include AllianceBernstein Holding L.P. (AB - Free Report) , Invesco Ltd. (IVZ - Free Report) and Waddell & Reed Financial Inc. (WDR - Free Report) . All these carry a Zacks Rank #1 (Strong Buy).

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