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AMP ( (AU:AMP) ) just unveiled an announcement.
AMP has reached an agreement in principle to settle a class action lawsuit concerning commissions for advice and insurance advice, initiated in 2020. The settlement, amounting to $29 million, addresses historical commission payments from July 2014 to February 2021 and involves AMP Limited, its advice licensee subsidiaries, and Resolution Life Australasia. This settlement, which requires court approval, signifies AMP’s effort to resolve past legal issues and concentrate on future growth and customer service.
The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on AMP stock, see the AU:AMP Stock Forecast page.
More about AMP
AMP is a financial services company operating in the financial planning and insurance sectors. It provides advice and insurance services through its subsidiaries, including AMP Financial Planning, Charter Financial Planning, and Hillross Financial Services. The company has a significant market presence in Australia, focusing on delivering financial solutions to its customers and members.
Average Trading Volume: 6,081,729
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$4.5B
For an in-depth examination of AMP stock, go to TipRanks’ Overview page.