Ameriprise Financial Inc.’s AMP first-quarter 2016 operating earnings per share of $2.17 lagged the Zacks Consensus Estimate of $2.20. However, the figure was up by a penny from the year-ago quarter. Ameriprise Financial Inc. (AMP) EPS BNRI & Surprise Percent - Last 5 Quarters | FindTheCompany The lower-than-expected results were due to a decline in revenues, partially offset by lower operating expenses. Further, a decrease in assets under management (“AUM”) and assets under administration was the undermining factor.After considering several significant items, net income attributable to shareholders came in at $364 million or $2.09 per share, compared with $393 million or $2.08 per share in the prior-year quarter.Behind the HeadlinesNet revenue (on a GAAP basis) of $2.77 billion was down 9% year over year. The figure missed the Zacks Consensus Estimate of $2.88 billion. On an operating basis, net revenue came in at $2.79 billion, a fall of 4% from the prior-year quarter. This reflected significant volatility in equity markets.Operating expenses fell 2% year over year to $2.29 billion. The decline was mainly due to lower distribution expenses and well controlled general and administrative expenses.As of Mar 31, 2016, total AUM and assets under administration summed $772.7 billion, down 5% year over year. Ameriprise advisor client net inflows were more than offset by market depreciation and asset management outflows.Share RepurchasesIn the reported quarter, Ameriprise repurchased 5.1 million shares for $451 million.DividendConcurrently, Ameriprise increased its regular quarterly dividend 12% to 75 cents per share. The dividend will be paid on May 20, to shareholders of record as of May 9.Our ViewpointGrowth at Ameriprise remained subdued due to increased volatility in equity market. Though consistent net outflows in the Asset Management segment continued to strain Ameriprise’s overall revenue-generation capacity, we expect the top line to improve in the upcoming quarters, driven by the company’s focus on business growth and strong capital position.At present, Ameriprise has a Zacks Rank #3 (Hold).Performance of Other Investment ManagersBlackRock, Inc. BLK reported first-quarter 2016 adjusted earnings of $4.25 per share, which lagged the Zacks Consensus Estimate of $4.29. Lower-than-expected quarterly results were due to a decrease in revenues, which was partially offset by an almost stable expense line.SEI Investments Co.’s SEIC first-quarter 2016 adjusted earnings of 46 cents outpaced the Zacks Consensus Estimate of 44 cents. The better-than-expected results were driven by higher revenues, partly offset by a rise in expenses.T. Rowe Price Group, Inc. TROW reported impressive first-quarter 2016 results with reported net income of $1.15 per share outpacing the Zacks Consensus Estimate of $1.02. Increase in AUM was a positive factor. However, decline in revenues and elevated operating expenses were a drag.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report T ROWE PRICE (TROW): Free Stock Analysis Report AMERIPRISE FINL (AMP): Free Stock Analysis Report BLACKROCK INC (BLK): Free Stock Analysis Report SEI INVESTMENTS (SEIC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research