A strong balance sheet and strong free cash flow generation support an attractive dividend yield.
AMP Limited disappointed with a first-half 2016 underlying profit of AUD 513 million, down 10% on a year ago. The profit missed our expectations by 5% and consensus by 3% due to sharply lower profits in Life, partially offset by a strong increase in performance fees (up 56% to AUD 61 million) in AMP Capital. The AUD 14 cents per share interim dividend (90% franked) was flat on first-half 2015 and was below our AUD 14.5 cent per share target. Underlying EPS fell 10% to AUD 17.3 cents with the 81%...AMP is a wealth management company in Australia and New Zealand, with an international investment management business and a retail banking business in Australia. Co. provides retail customers in Australia and New Zealand with financial advice, superannuation, retirement income and investment products. Co. also provides superannuation services for businesses, administration, banking and investment services for self-managed superannuation funds, income protection, disability and life insurance, and selected banking products. As of Dec 31 2015, Co. had total assets under management of A$226.00 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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