If you’d bought $10,000 of AMP shares at the start of the year, congrats! Here’s what you’d have now

AMP Ltd (ASX: AMP) shares have soared nearly 32% in the year to date.

Despite some highs and lows during the year, AMP shares have lifted from $1.01 at market close on 31 December and are now trading at a yearly high of $1.33.

Let’s take a look at how much money I would have now if I had invested in this ASX financial share at the start of the year?

Good investment?

Let’s say I had bought AMP shares for $1.01 prior to market open on 4 January.

Imagine I had put down $10,000 of my savings in this investment. I would have walked away with 9,900 shares at this price with $1 left over.

Now, these shares are worth $1.33, based on Tuesday’s closing price. So my investment would now be worth $13,167. This means I would have made $3,167 in profit year to date.

Now, let’s take a look at the bigger picture for AMP shares. On 27 January, AMP shares were fetching just 87 cents. On this day, my investment would be worth just $8,613.

However, overall, if I had bought $10,000 worth of AMP shares at the start of the year and held on to them, I would be very happy with my investment.

AMP reported positive inflows and growth across most of its operations in the third quarter. AMP bank’s loan book also lifted by $0.6 billion to $23.3 billion.

Commenting on the results, chief executive Alexis George said:

Our bank continues to grow above system with both the loan and deposit books increasing in a competitive market.

AMP share price snapshot

AMP shares have surged 32% in the past year, gaining 10% in the last month alone.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has climbed 0.19% in the last year.

The company has a market capitalisation of about $4.1 billion.

The post If you’d bought $10,000 of AMP shares at the start of the year, congrats! Here’s what you’d have now appeared first on The Motley Fool Australia.

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More reading

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• Up 10% in a month, are AMP shares worth buying back into now?
• Is it finally safe to buy ASX shares now?
• ASX 200 shares may have just hit the bottom: AMP economist
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Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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