BUZZ-Ameriprise rises after higher Q4 profit

Shares of Ameriprise Financial AMP.N up 4.3% at $600 in premarket trade

AMP reported a 24% rise in fourth-quarter profit on Wednesday after markets closed, driven by higher fee income on the back of the value of its clients' assets increasing

Ameriprise's assets under management and administration came in at $1.52 trillion in the quarter, a 10% jump from last year

AMP's management and financial advice fees jumped 19% to $2.72 billion, while net investment income rose 0.5% to $892 million

Adjusted operating earnings rose to $947 million, or $9.36 per share, in the quarter ended Dec. 31, from $761 million, or $7.20 per share, a year earlier

Shares of AMP gained 40.2% in 2024