Market On Board with AMP Asset Sale Strategy
AMP shares enjoyed their best day for months yesterday after it sold the rest of its asset management business to a New York investment firm in a deal worth at least $462 million.
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Amp Limited
AMP has a long history of helping our customers manage their finances and achieve their goals.
We were founded 170 years ago on a simple yet bold idea: that financial security enabled people to live with dignity. Our founding purpose was captured by the Latin motto: Amicus Certus In Re Incerta – A sure friend in uncertain times. This deep commitment to helping clients continues and is articulated in our purpose statement today – Realise human ambitions.
A leader in the Australian market, our reach now spans around the world, where we use our expertise to help clients in New Zealand, and across Asia, the Middle East, Europe, the United Kingdom and North America
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News
AMP – Dexus Deal Consummated at Last
AMP has sold its real estate and domestic infrastructure equity business to Dexus FM in a deal valued at about $250 million, and is still looking to offload other parts of its shrunken empire.
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Intrigue Surrounds AMP Intentions for Collimate
If you read yesterday's statement from AMP, you’d be excused for thinking that the sale of its Collimate assets is anything but a certainty, despite the many claims that Dexus has it in the bag.
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Stock Snippets: SGR, CVN, AMP
Lots going on around the traps to kick the week off, and here is the latest news from Star Entertainment Group, Carnarvon Energy and financial sector stalwart AMP Limited.
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No (Bad) News is Good News for AMP
Financial services firm AMP has reported a full-year loss of $252 million for 2021 but the company and its newish CEO, Alexis George wants the market to look elsewhere.
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Analyst Views
AMP – Citi rates the stock as Neutral
Neutral (High Risk) and $1.25 target retained for now.
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AMP – Macquarie rates the stock as Upgrade to Neutral
Having initially retained an Underperform rating after a first galance at AMP's result yesterday, Macquaire has now decided to upgrade to Neutral. Target rises to $1.45 from $1.30.
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AMP – Citi rates the stock as Neutral
Citi analysts remain of the view that the optimum strategy for the AMP board to release value for shareholders is through spinning off some of the divisions. Neutral/High risk rating remains in place while the price target has improved to $1.60 from $1.55.
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AMP – Macquarie rates the stock as Neutral
AMP has received final regulatory approval for the sale of the life business. Macquarie estimates this leaves AMP with around $950m in excess capital.
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AMP – Macquarie rates the stock as Neutral
AMP has withdrawn 2020 guidance, but the sale of Life and NZ is progressing. The broker has marked to market for funds under management but also adjusted remediation assumptions (80% already paid) to remove some duplication of earlier numbers.
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