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The latest announcement is out from AMP ( (AU:AMP) ).
AMP has reached an agreement in principle to settle a class action lawsuit concerning fees and interest rates charged to certain superannuation clients from July 2008 to May 2020. The settlement totals $120 million, with AMP contributing $75 million, and is pending approval by the Federal Court of Australia. This resolution marks a significant step for AMP, allowing the company to move past this legacy issue and continue focusing on enhancing its superannuation offerings.
The most recent analyst rating on (AU:AMP) stock is a Hold with a A$1.80 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 prominent company in the financial services industry, primarily offering superannuation, investment, and insurance products. It focuses on delivering strong investment returns, competitive fees, and quality service to its members.
YTD Price Performance: 8.68%
Average Trading Volume: 7,970,537
Technical Sentiment Signal: Buy
Current Market Cap: A$4.28B
Find detailed analytics on AMP stock on TipRanks’ Stock Analysis page.