If you’ve been watching the Australian market lately, you know the AMP Limited stock price has been a bit of a rollercoaster. Honestly, it’s the kind of stock that makes seasoned investors lean in and skeptics roll their eyes. We’re looking at a company that was once the undisputed king of Australian wealth management, only to spend years in what felt like a permanent defensive crouch.
But as of mid-January 2026, things look... different.
The stock is currently hovering around $1.82, a significant climb from the dollar-flat territory it haunted not too long ago. It’s not just about the number on the screen, though. It’s about whether this is a genuine structural recovery or just another "dead cat bounce" in a very long, very painful saga.
The Current State of the AMP Limited stock price
Right now, the market cap sits near $4.61 billion. That might sound like a lot, but for those who remember AMP’s glory days before the Royal Commission, it’s a shadow of its former self. However, momentum is a funny thing. Over the last 52 weeks, we’ve seen the price swing between a low of $1.04 and a high of $2.01.
That’s a massive range.
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It tells you that volatility hasn’t left the building. Traders are still fighting over what this company is actually worth. On one hand, you have the "old AMP" baggage—class actions, regulatory headaches, and a reputation that took a massive hit. On the other, you have a lean, simplified business that is finally starting to show some teeth in its core segments.
Why the 2025 Divestments Changed Everything
A huge reason for the recent stability in the AMP Limited stock price was the aggressive "simplification" strategy led by CEO Alexis George. Basically, they stopped trying to be everything to everyone.
The big move? Selling the advice division.
In late 2024 and through 2025, AMP handed over the keys of its licensee businesses—Hillross and Charter Financial Planning—to Entireti. They also offloaded minority stakes in several advice practices to AZ NGA.
By offloading these capital-intensive and high-risk divisions, AMP transformed into a business focused on:
- Platforms: Their North platform is actually a beast, with Assets Under Management (AUM) exceeding $83 billion in late 2025.
- Superannuation: For the first time since 2017, they actually saw positive net cashflows in their super business last year.
- AMP Bank: A digital-first bank that is small but growing, specifically targeting the mortgage market with lower overheads than the "Big Four."
What Analysts are Actually Saying (The Unfiltered Version)
If you look at the consensus from the big houses like Macquarie or Morningstar, the mood is "cautiously optimistic." That’s analyst-speak for "we think it’s going up, but don’t blame us if it doesn't."
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The average one-year price target for AMP Limited stock price currently sits around $1.94. Some bulls are calling for $2.31, while the bears are anchored down at $1.62.
The Dividend Dilemma
Dividends are the lifeblood of ASX investors. AMP’s yield is currently around 1.6% to 1.7%, which is... fine. But it’s not exactly a "yield play" compared to the big banks or miners.
The company paid out 2.0 cents per share in September 2025, partially franked at 20%. They’ve also been leaning heavily on share buybacks—spending hundreds of millions to cancel shares and boost the value of the ones remaining. It’s a classic move: if you can’t find a better way to grow the business, buy yourself back.
Honestly, it works. It reduces the "share count" and makes earnings per share (EPS) look a lot prettier.
The Risks Most People Ignore
You can't talk about AMP without mentioning the legal ghosts. Just in December 2025, they settled a commissions class action for $29 million. While that’s a drop in the ocean compared to previous settlements, it’s a reminder that the "legacy" of the old AMP still has a price tag.
Then there’s the interest rate environment.
AMP Bank is a "price taker." When the RBA shifts rates, AMP has to move quickly to stay competitive without blowing out their margins. They don't have the massive deposit base of a CBA or Westpac to cushion the blow.
- Platform Competition: Hub24 and Netwealth are still eating everyone's lunch.
- Regulatory Scrutiny: ASIC isn't going anywhere.
- Consumer Trust: It takes ten years to build and ten seconds to break. AMP is on year seven of the rebuild.
Is it a Buy?
Whether the AMP Limited stock price belongs in your portfolio depends on what kind of investor you are.
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If you’re looking for a "cigar butt" investment—something that’s been beaten down so far that any good news sends it flying—AMP is a prime candidate. The simplification is working. The cashflows are turning positive.
But if you’re a "sleep at night" investor who wants 100% franked dividends and boring, steady growth? This probably isn't it. Not yet.
Actionable Insights for Investors
If you’re watching the tape on this one, here’s how to play it:
- Watch the AUM: The North platform is the engine room. If those assets under management start to dip or growth slows, the stock price will follow suit regardless of what the bank does.
- Monitor the Buybacks: AMP is sitting on a lot of capital from their sales. Watch for announcements of further share cancellations; this is the primary floor supporting the price right now.
- February Results: Keep an eye out for the February 2026 full-year results. This will be the first "clean" look at the company without the heavy noise of the advice divestments.
- Technicals: The $1.80 level has become a bit of a psychological line in the sand. Staying above this indicates the market believes the turnaround story.
The reality is that AMP is no longer the systemic risk it once was. It's a smaller, more nimble financial services player that is finally learning to live within its means. It’s not flashy, it’s not "tech-growth," but for the first time in a decade, it’s a company that actually knows what it wants to be when it grows up.