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Magellan Financial Group (MFG)

ASX.MFG $9.03

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MFG $9.03

20 MINUTE DELAYED

TODAY

0.00 %

1 YEAR RETURN

0.00%

VOLUME

DIV YIELD

7.66%

PE RATIO

8.08

52 WEEK RANGE

6.06

10.73

ANALYSIS
OPINION
ACTION

ANALYSIS

Overview

SHARE PRICE ACTIVITY
Last (Price)	9.03
Change	0.00 (0.00)
Bid / Ask	9.27 - 8.58
Volume	0
Turnover	0
Open	0.00
Day Range	8.91 - 9.15
VWAP	0.00
Prev Close	9.03
Last Trade	18/04 9:35am (AEST)

KEY INFORMATION
Sector	Financial
Shares Issued	167,367,921
NTA/Share	0.00
Last Dividend	0.29
Dividend Ex Date	20 FEB 2024
Dividend Pay Date	06 MAR 2024

CURRENT ()
Revenue	431.65
EBITDA	275.82
Profit	174.31
Earnings Per Share (EPS)	0
Dividend Per Share (DPS)	0
Yield %	7.66
Market Cap	0
Price to Earnings Ratio (P/E)	8.08

TARGET PRICE FORECAST

ESTIMATES ()
Revenue	298.92
EBITDA	205.60
Profit	161.20
Earnings Per Share (EPS)	0.88
Dividend Per Share (DPS)	0.64

BROKER CONSENSUS RECOMMENDATION

BUY

SELL

Target Price

0.00

Lt Growth Rate

0.00

Recommendation (HOLD)

3.40

OPINION

12/04/2024 09:14

Active Income Portfolio – Amendment

We are adding a stock to the Income Portfolio today

19/03/2024 09:06

Magellan Financial Group (MFG) $9.70

MGF rallied to fresh 2024 highs on Monday in an almost stealth-like manner compared to the fanfare that heralded its aggressive decline over the last 3-years. Our bullish view towards MFG has held the stock in good stead over recent months, and we have no reason to lose confidence in the stock at current levels.

06/03/2024 09:43

Active Growth Portfolio – Amendments

We are making several changes to the Active Growth Portfolio

05/03/2024 09:45

Magellan Financial Group (MFG) $8.36

We have touched on MFG a few times over recent months, and after taking profit in the fund manager in January, it's back on our radar after correcting back towards $8. The crux of our attraction to MFG is threefold: Approx. 50% of the company's value is tied up in cash and investments, which could easily lead to future buybacks and other capital management initiatives. Note that by definition, these investments increase in value in a bullish market. The company has a strong balance sheet and carries no debt, with cash recently bolstered by ~$80m of sold fund investments, while capital disclosures indicate ~$311m of (liquid) strategic capital. The company’s earnings are linked to the stock market’s performance, and we’re bullish until further notice.

01/03/2024 09:30

Magellan Financial Group (MFG) $8.11

MFG delivered a solid first-half beat last month, although it was driven by capital gains rather than a strong operational performance from the fund manager, i.e. The profit of $93.5m was well ahead of the $66m consensus estimate. We liked the announcement that Sophia Rahmani, a well-credentialed leader from boutique fund manager Maple-Brown-Abbott, would take on the CEO role.

15/02/2024 16:54

Magellan (MFG) $9.32

MFG +4.37%: a big first-half beat, though mostly driven by capital gains rather than a strong operational performance from the fund manager. Profit of $93.5m was well ahead of the $66m consensus estimate. Funds margins increased 4bps with cost control improvements starting to flow through to earnings, looking on track to meet guidance for the year.

01/02/2024 09:55

Magellan Financial Group (MFG) $9.07

MFG has been on a rollercoaster ride over multiple years, with the story a long, interesting, painful and more recently, a profitable one. At this stage, we believe the stock has limited upside after bouncing over +60% from its 3Q low. We haven’t given up on our thesis around MFG, where much like Perpetual (PPT), we see more value in the components of their business than the market is giving them credit for, but simply for now, the risk/reward isn’t overly attractive ~$9.

08/01/2024 09:39

Active Growth & Income Portfolio – Amendment

We are amending the Growth & Income Portfolios

21/12/2023 09:01

Magellan Financial Group (MFG) $9.15

We have enjoyed MFG's stellar recovery over recent months, and it currently looks to have the momentum to extend towards $10, but at these levels, the stock will already be pricing in a decent turnaround for the business.

12/12/2023 09:22

Magellan Financial Group (MFG) $8.69

As we all know, MFG has endured a tough time post-COVID, at one stage, down over 90% from its August 2020 high. However, over the last 8-weeks, it has been one of the ASX200’s standout performers, advancing well over 40%. We’ve remained patient with our holdings in the Fund Manager, holding positions across two portfolios from just below current levels, given our view around the embedded value in the franchise.

ACTION

MFG

UPDATED 12/04/2024 09:53

MM are buying MFG in the Active Income Portfolio, initiating with a 4% weighting around $9.30

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MFG

UPDATED 19/03/2024 09:34

MM remains bullish MFG short to medium-term

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MFG

UPDATED 06/03/2024 10:10

MM are buying MFG in the Active Growth Portfolio, allocating 4% around $8.50

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MFG

UPDATED 05/03/2024 16:21

MM is bullish toward MFG under $8.50

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MFG

UPDATED 01/03/2024 12:49

MM likes MFG back around $8

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MFG

UPDATED 15/02/2024 16:57

MM is neutral to mildly bullish MFG around $9.32

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MFG

UPDATED 01/02/2024 16:10

MM is neutral toward MFG ~$9, but will get interested again into weakness

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MFG

UPDATED 11/01/2024 17:53

MM are selling MFG in the Active Income & Growth Portfolios, taking profit & increasing cash around $9.60

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MFG

UPDATED 21/12/2023 09:29

MM is long and cautiously bullish on MFG

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MFG

UPDATED 12/12/2023 09:47

MM remains long and bullish toward MFG in the short term

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Business Summary

A subsidiary of the Magellan Financial Group (one of the top-200 stocks by market value on the ASX) Magellan was established in 2006 with the aim of investing in worldwide equities and globally-listed infrastructure in an effort to generate solid client returns without putting their capital at risk. Those pillars of safeguarding and wealth creation remain key to the company, which continues to invest in premium global stocks. As of June 2022, Magellan’s industry award-winning team of 35 investment professionals are responsible for managing over AU$60-billion in stocks (as of July 2022). Sustainability now plays an important role within the business. As a result, the company has led a paperless way to invest in global equities on the Australian Stock Exchange.

WATCH

Portfolio Manager Harry Watt on Ausbiz, discussing Magellan (MFG), Regal Partners (RPL) & Perpetual (PPT) Recorded Monday 6th March @10.30am

06/03/2023 14:23

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Magellan Financial Group (MFG)

ASX.MFG $9.03

14 DAYS FREE ACCESS

MFG $9.03

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Really bullish, there's more to go in the reflation rally

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