10 stories mentioning ASX:AMP
Every FINWIRES story that references ASX:AMP, newest first.
AMP (ASX:AMP) has completed its AU$150 million on-market share buyback, acquiring around 99 million ordinary shares at an average price of AU$1.52 each, according to a Monday filing with the Australian bourse.The company's shares rose 1% in recent Monday trade.
AMP's (ASX:AMP) superannuation arm, AMP Super, introduced a new retirement package designed to convert superannuation savings into a lifetime income stream, aiming to improve retirement confidence and provide additional support for aged-care needs, according to a Monday statement.The package offers a guaranteed lifetime income product to support higher retirement spending, a temporary 20% income boost for up to two years for those needing high-level home care, and a digital financial advice platform that provides personalized guidance, income projections, and retirement planning tools.The initiative addresses Australians' rising concerns about retirement stress and aged-care affordability by strengthening income stability and later-life care support, per the statement.
AMP (ASX:AMP) appointed Jackie Cleary as chief financial officer, effective July 20, according to a Friday filing with the Australian bourse.Cleary most recently worked as managing director and head of financial institutions at Jefferies Australia, the filing added.
Australian investment company IFM Investors has threatened to scrap a proposed AU$3 billion sustainable aviation fuel project in Australia, unless the Australian government mandates airlines use the product, according to a Tuesday Bloomberg report, citing IFM's Global Head of Infrastructure Asset Management, Danny Elia.Elia said that IFM needs to see some finalization of Australia's policy framework on the subject as well as a demand-side mandate, the report added.IFM is working on the project under a memorandum of understanding with Ampol (ASX:AMP) and GrainCorp (ASX:GNC).Virgin Australia (ASX:VGN) and Qantas Airways (ASX:QAN) did not immediately respond to anemail request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
AMP (ASX:AMP) has an average rating of overweight and mean price target of AU$1.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
The earnings power and performance of AMP's (ASX:AMP) China associates in fiscal year 2025 appeared to have been "overlooked" as investors focused on sharp misses in the Australian business, driving the share price 26% lower, Jarden said in a Thursday note.These associates contribute over 30% of the company's group net profit after tax and are growing at 36% per year, the investment and advisory firm said.Jarden suggests that AMP hold on to its Chinese stakes, improve disclosure, and inform the market about the asset management characteristics that warrant higher valuations compared with the insurance conglomerate comparables the market is applying, according to the note.Jarden maintained its overweight rating on AMP and raised its price target to AU$1.75 from AU$1.65.
AMP (ASX:AMP) has an average rating of overweight and mean price target of AU$1.70, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
AMP (ASX:AMP) reported solid net flows in its Platforms wealth management business, with the North platform's performance helping extend the company's positive streak to six straight quarters, Jarden said in a Thursday note.With the cash margin repricing on Platforms, the company has now delivered on two out of the three initiatives Jarden previously discussed, and the final one would be to launch a strategic review of its bank unit.The equity research firm views a loan book sale or a total sale of the bank as more attractive options than the current strategy, which will likely make it difficult to deliver cost of capital returns before 2030."Overall, we continue to remain positive on AMP given exposure to superannuation tailwinds and capital discipline," Jarden said as it maintained its overweight rating on the company.It also raised its price target on AMP to AU$1.65 from AU$1.55, reflecting confidence in Platforms' growth trajectory.AMP's shares were down nearly 2% in recent Friday trade.
AMP (ASX:AMP) reported "encouraging" first-quarter results as momentum accelerated across its core business units, and AMP Bank recorded only a minor decrease in loan balances from the linked quarter, Jefferies said in a Thursday note.The company's North wealth management platform saw a robust AU$1.1 billion of new inflows, representing the fourth consecutive quarter of net inflows topping the AU$1 billion mark. The Superannuation and Investments division posted "a continued and meaningful improvement" as net cash outflows contracted to AU$80 million, Jefferies said.In its international businesses, the outlook for AMP's China Life ventures is buoyed by structural demographic tailwinds, while AMP New Zealand performed well with positive new cash inflows of AU$41 million in the quarter, the equity research firm said.The company's AU$150 million on-market buyback is now included in forecasts, which Jefferies estimates to be around 4% accretive. Including overall forecasting adjustments, the firm's EPS forecasts for AMP increase 6% for 2026 and 8% for 2027.Jefferies maintained a buy rating on AMP and raised its price target on the company's shares to AU$1.75 from AU$1.50.
AMP (ASX:AMP) said platform net cashflows for the first quarte rose 45% to AU$1.1 billion from AU$740 million in the same period a year earlier, according to a Thursday Australian bourse filing.The company said superannuation and investments net cash outflows improved 26% to AU$80 million from AU$108 million in the prior corresponding period, while total assets under management across its wealth businesses stood at AU$155.9 billion, with the AMP Bank total loan book steady at AU$24.1 billion.AMP said AMP Bank GO deposits rose AU$632 million from the fourth quarter of 2025 to AU$942 million, with full-year 2026 GO deposits now expected to exceed AU$1.5 billion, while all other guidance remains unchanged and subject to market conditions.The company said its previously disclosed AU$150 million on-market share buyback is now commencing.