Ameriprise stock forecast

Ameriprise's weighted forecast is $561.01 in October 2027 and $711.13 in October 2029, with bear 25%, base 55% and bull 20% probabilities. It hinges on advisor retention, Columbia flows, RiverSource capital and assets that remain profitable after transfer.

Where could Ameriprise's shares go?

The verdict is constructive: Ameriprise can advance if it retains client relationships, completes Huntington transfers, controls RiverSource risk and continues buybacks. Management targets average adjusted operating EPS growth of 12.0%–15.0% over time, although buybacks can contribute to per-share growth. The weighted forecast is $561.01 in October 2027 (+13%). It reaches $711.13 in October 2029 (+46%). The probabilities are bear 25%, base 55% and bull 20%.

What has to go right for Ameriprise, and what could go wrong?

Earnings are the first driver, starting at $4,100M of normalized adjusted operating earnings. The base path rises from $4,181M at the first forecast date to $4,793M at the final date; the middle step is shown in the table. It reflects moderate revenue growth, slight margin improvement, advisor productivity, partial Huntington onboarding and continued buybacks. The starting estimate is close to the latest adjusted result and consistent with the supplied next-12-month analyst EPS estimate.

The bear path falls from $3,861M to $3,733M as weak flows, advisor losses, lower asset values and recruiting costs compress margins. Columbia’s negative $6.5B Q2 flows support that risk. The bull path rises from $4,429M to $5,264M because successful Huntington transfers, stronger retention and operating leverage improve both revenue and margins. Huntington transfers were still prospective, so the bull case remains conditional.

How much cash does Ameriprise really make?

Operating cash flow was about $8.3 billion in 2025, while property, equipment, and software purchases were $162 million. That subtraction does not create distributable cash: collateral, customer balances, regulation, technology, and compliance still constrain what subsidiaries can send to the parent.

What does an investor pay for Ameriprise today?

At $500.80 on October 19, 2026, Ameriprise trades at 12.1 times trailing earnings and 10.8 times expected earnings. Its 7.0 times price-to-book ratio looks richer because book value records accounting equity, not the full value of trusted client relationships. Buybacks can also shrink equity, while accumulated other comprehensive income records some unrealized investment gains and losses outside current profit. Profitability, investment quality, and regulatory capital therefore matter alongside book value.