Amundi is a holding company. Through its subsidiaries, Co. provides advisory and investment management services. Co. provides savings, financial instruments, equity trading, credit activities, and investment solutions for both private individuals and institutional and corporate clients worldwide.
  • TickerA143DP
  • ISINFR0004125920
  • ExchangeEuronext Paris
  • SectorFinancial Services
  • CountryFrance

Analysts

Thanks to a better fundamental star rating, AMUNDI sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to AMUNDI (FR), active in the Asset Managers industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date September 10, 2019, the closing price was EUR 60.70 and its expected value was estimated at EUR 58.39.

1 director sold

A director at Amundi Group sold 4,977 shares at 57.728EUR and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Jean Sassus ...
  • Steven Gould

Amundi : Q1 2019 – Zone of tension successfully navigated

>The markets and the margin drive earnings - Q1 2019 earnings = € 234m, +9.3% ahead of the consensus (+5.4% vs Q1 2018). There are two reasons for this:Market effect: Whilst Amundi recorded outflows of -€ 7bn in Q1 2019, AuM rose by +3.7% vs Q4 2018. The market impact is € 60bn, incl. +€ 24.6bn for equity, +€ 18.5bn for fixed income and +€ 10.4bn for the multi assets.Margins: the gross margin reached 19.0bp (vs 18.5bp forecast by the consensus). We estimate ...

Jean Sassus ...
  • Steven Gould

Amundi : T1 2019 – Traversée réussie de la zone de tension

>Les marchés et les marges tirent les résultats - Résultat T1 2019 = 234 M€ +9.3% au-dessus du consensus (+5.4% vs T1 2018). A cela, deux raisons :Effet de marché: alors qu’Amundi enregistre une décollecte de -7 Md€ au T1 2019, les AuM croissent de 3.7% vs T4 2018. L’effet de marché est de 60 Md€ dont +24.6 Md€ pour l’Equity, +18.5 Md€ pour le Fixed Income et +10.4 Md€ pour le Multi Assets.Marges: la marge brute ressort à 19.0 pb (vs 18.5 pb consensus). Nou...

Jean Sassus ...
  • Steven Gould

Amundi : The art of cost management

>Growth/costs arbitrage: a relatively rare option - Q4 2018 results, the outlook for interest rates and the market suggest that the target of cumulative inflows in excess of € 150bn for 2018/2019/2020 could be more difficult to reach. Moreover, the impacts of a negative market over the period are possible and even likely. Even without envisaging a decline in the average margin, Amundi could therefore be facing the prospects of revenues that are slightly less favourabl...

Jean Sassus ...
  • Steven Gould

Amundi : L’art de la gestion des coûts

>Arbitrage croissance / coûts : une option plutôt rare - Les résultats T4 2018, les perspectives de taux et de marché suggèrent que l’objectif d’une collecte cumulée de plus de 150 Md€ sur 2018/2019/2020 pourrait être plus difficile à atteindre. Par ailleurs, des impacts de marché négatifs sur la période sont possibles voire vraisemblables. Même sans envisager une baisse de la marge moyenne, Amundi pourrait donc faire face à des perspectives de revenus un peu moins fa...

1 director sold

A director at Amundi Group sold 4,977 shares at 57.728EUR and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/29/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/04/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard
  • Martial Descoutures
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/14/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard
  • Martial Descoutures
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/02/2019

...

Thanks to a better fundamental star rating, AMUNDI sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to AMUNDI (FR), active in the Asset Managers industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date September 10, 2019, the closing price was EUR 60.70 and its expected value was estimated at EUR 58.39.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Amundi - AGM 16 May 2019

Disclaimer: ECGS does not provide any service to the Company, except assistance on managing their voting guidelines (provided by Proxinvest, the French partner of ECGS). ITEM 5: Although performance achieved in 2018 is good, amounts granted are excessive (€3 M , i.e. 146% of the SBF80 CEOs’ total remuneration median and 112% of the MSCI Europe‘s Financial services sector median). Moreover, the company’s disclosure does not allow for a perfect understanding of amounts granted as it still does not disclose individual achievement rates of each financial criterion. We announced at the beginning o...

Jehanne Leroy

Amundi - Assemblée générale des actionnaires du 16 mai 2019

Note : Proxinvest ne fournit aucun conseil à la société hors l'assistance pour la gestion de la politique de vote des actions détenues Rémunérations Concernant les rémunérations attribuées au titre de 2018 au Directeur général (résolution 5), bien que les performances de l'exercice semblent plutôt bonnes, les montants attribués à M. Perrier sont très généreux (3 M€, soit 146% de la médiane des rémunérations totales des dirigeants du SBF 80 et 112% de la médiane du secteur Financial Services du MSCI Europe). De plus, la compréhension des montants attribués n'est pas parfaite puisque la socié...

Jehanne Leroy

Proxy Report - 15/05/2018

ITEMS 9 to 12: The company proposes to renew the mandate of 3 board members affiliated to Credit Agricole, the controlling shareholder and 1 board member affiliated to Société Générale. Although Credit Agricole is not overrepresented on the Board of Amundi, the Board's independence rate (30.7%) still does not respect our Guidelines (at least 50%). Hence we cannot support the re-election of the 3 directors linked to Crédit Agricole. Due to this low independence rate, we cannot support the reelection of the director linked to Société Générale (even more since Société Générale is no longer a sha...

Jehanne Leroy

Proxy Report - 15/05/2018

La société propose de renouveler 4 administrateurs dont 3 liés à Crédit Agricole (actionnaire de contrôle) et 1 lié à Société Générale. Bien que l'actionnaire Crédit Agricole ne soit pas surreprésenté au conseil, celui-ci ne comprend que 30,7% d'indépendants, soit un niveau en dessous de notre seuil de 50%, même pour les sociétés contrôlées. Ainsi, nous ne soutenons aucun des administrateurs liés à Crédit Agricole. En raison de ce taux d'indépendance du conseil trop faible selon notre politique de vote, nous ne soutenons pas non plus le renouvellement de l'administrateur lié à Société Général...

Jehanne Leroy

Etude de l'AG du 15/05/2017

Le tout premier Say on Pay de M. Perrier, Directeur général de la société a été approuvé en 2016 à 96,3% ; il a donc été contesté par 20,5% des actionnaires minoritaires, ce qui, pour un premier Say on Pay est assez parlant. Or, cette année, aucune modification dans la communication de la société n’a été observée.Il est assez regrettable que la société n'ait pas entendu les critiques de ses et n'ait pas amélioré sa communication en publiant, par exemple, les taux de réalisation de chacun des critères économique du bonus, ou même ne serait-ce que la nature des agrégats utilisés pour la partie d...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

Jérôme VINERIER

Analyse court terme - AMUNDI SA : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 50,39 €, puis 46,30 €. Le franchissement de 66,40 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - AMUNDI SA : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €50.39, then €46.30. Passing €66.40 would question the continuation of the fall.

Jérôme VINERIER

Short term view - AMUNDI SA : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at €50.39, then €46.30. Passing €66.40 would question the continuation of the fall.

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