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| Company Name: |
AMP Limited |
| Stock Code: |
AMP |
| Website: |
www.amp.com.au |
| Market Cap ($M): |
10,256 |
| Equiv. Shares (M): |
2,049 |
|
|
 |
|
| Current Price |
Open |
High |
Low |
Last Close |
Volume |
Price Movement |
$ 5.210 |
$ 5.190 |
$ 5.210 |
$ 5.160 |
$ 5.150
|
16,129,430 |
$ 0.060 1.165 %
|
|
| Recommendation : |
Hold
|
| Recommendation Date : |
1st Sep 2010 |
| 12 Month Target Price (average) : |
$6.379 |
| Brokers Surveyed : |
9 |
|
| % of Market: |
0.9800 |
| % of Sector: |
n/a |
| Sector: |
Financials |
| Industry Group: |
Insurance |
| Industry: |
Insurance |
|
|
|
|
|
| Company Overview |
| AMP Limited (AMP) is a major Australasian wealth manager and life insurer. The group comprises AMP Financial Services, which owns Australia's largest financial planning network and has leading market shares in a range of products and platforms, and AMP Capital Investors, a fund manager. |
| Company History |
| In 1849, the Australian Mutual Provident Society (AMP) was registered under the Friendly Society Act of NSW for providing life insurance products. In 1958, AMP Fire & General Insurance was formed. In 1989, AMP acquired Pearl Assurance, the first of a number of life insurance and financial services acquisitions in the UK. In December 2003, the UK businesses were divested through a demerger. In 1998, the AMP demutualised and was listed on the ASX. In 2000, AMP acquired GIO and sold it in 2001. |
| Differentiating Factor |
| AMP enjoys a strong brand name in Australia and is a market leader in many of its products. Its key strengths in Australia include a strong, well-regarded distribution network. |
| Major Customers & Competitors |
| AMP operates through financial planners and agents in addition to its direct contact with policyholders and investors. Business is also conducted direct with companies who choose to invest in AMP products. Major competitors include other investment and funds management companies such as NAB/MLC, CBA/Colonial, Westpac/BT/Asgard and ANZ/ING. |
|
Year to n/a
|
NPAT
Rep $M |
NPAT1
Adj $M |
EPS
c |
EPS chg
% |
PER
x |
PER rel
All Ords x |
PER rel
Sector x |
DPS
c |
Yield
% |
Franking
% |
ROE
% |
| 2007 |
|
|
|
-0.3 |
10.1 |
0.7 |
0.7 |
|
8.8 |
|
|
| 2008 |
|
|
|
-16.5 |
12.2 |
1.2 |
1.2 |
|
7.7 |
|
|
| 2009 |
|
|
|
-10.6 |
13.6 |
0.7 |
0.8 |
|
5.8 |
|
|
|
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
|
| QBE Insurance Group |
QBE |
$16.60 |
$17,172M |
10.3475 |
9.4243 |
-16.7844 |
9.7965 |
7.8313 |
7.9518 |
| AXA Asia Pacific |
AXA |
$5.51 |
$11,429M |
18.6921 |
15.1981 |
-10.6575 |
22.9898 |
3.3575 |
3.6298 |
| Suncorp-Metway |
SUN |
$8.35 |
$10,700M |
13.7225 |
10.7744 |
1.9332 |
27.3625 |
4.1916 |
5.1497 |
| AMP |
AMP |
$4.95 |
$10,256M |
11.4869 |
10.5769 |
12.5321 |
8.6038 |
6.6667 |
7.4747 |
| Insurance Australia Group |
IAG |
$3.40 |
$7,055M |
21.9099 |
12.3881 |
66.8610 |
76.8634 |
2.5000 |
5.0000 |
|
| AMP |
-8.6716 |
-16.6667 |
-23.2558 |
| Sector |
1.5078 |
-7.4657 |
-1.3958 |
| Market |
3.6177 |
-3.1195 |
2.8483 |
|
| P/E (x) |
FY07 |
10.1 |
15.2 |
15.4 |
|
FY08 |
12.2 |
10.4 |
10.1 |
| Yield (%) |
FY07 |
8.8 |
9.5 |
5.2 |
|
FY08 |
7.7 |
7.7 |
5.2 |
| EV/EBIT (x) |
FY07 |
7.3 |
6.7 |
10.5 |
|
FY08 |
8.6 |
3.9 |
14.0 |
| EV/EBITDA (x) |
FY07 |
7.3 |
6.1 |
12.5 |
|
FY08 |
8.6 |
3.7 |
12.0 |
|
| P Mason |
Non-Executive Chairman |
| R Grellman |
Director |
| Dr N Scheinkestel |
Director |
| C Dunn |
Managing Director / CEO |
| J Palmer |
Non-Executive Director |
| J B Clark |
Director |
| Professor P Shergold |
Non-executive Director |
| P Fegan |
Non- Executive Director |
|
| C Dunn |
Managing Director |
| P Leaming |
CFO |
| S Dunne |
MD, AMP Capital Investors |
| C Meller |
Managing Director, AMP Financial Services |
| J Deane |
GM, Strategy and Development |
| B Salter |
General Counsel |
|
| Barclays Global Investors Australia Limited |
5.1700 |
| WestLB Asset Management |
5.0800 |
|
| 19-Aug-2010 |
Reporting Date for Half Yearly Result |
| 14-Apr-2010 |
Dividend Date Payable for Final Year Result
(16c 50% franked)
|
| 01-Mar-2010 |
Dividend Record Date for Final Year Result
(16c 50% franked)
|
| 23-Feb-2010 |
Dividend Ex-Dividend Date for Final Year Result
(16c 50% franked)
|
| 18-Feb-2010 |
Reporting Date for Final Year Result |
|
|
Data supplied by Aegis Equities Research Pty Limited (ACN 085 293 910).
|
|
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