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Magellan Financial Group (MFG)

ASX.MFG $12.18

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MFG $12.18

20 MINUTE DELAYED

TODAY

2.44 %

1 YEAR RETURN

0.00%

VOLUME

683,318

DIV YIELD

5.34%

PE RATIO

9.24

52 WEEK RANGE

7.94

12.21

ANALYSIS
OPINION
ACTION

ANALYSIS

Overview

SHARE PRICE ACTIVITY
Last (Price)	12.18
Change	0.29 (2.44)
Bid / Ask	12.17 - 12.20
Volume	683,318
Turnover	8,256,959
Open	11.83
Day Range	11.75 - 12.20
VWAP	12.08
Prev Close	11.89
Last Trade	24/01 4:10pm (AEST)

KEY INFORMATION
Sector	Financial
Shares Issued	170,192,584
NTA/Share	0.00
Last Dividend	0.36
Dividend Ex Date	20 AUG 2024
Dividend Pay Date	04 SEP 2024

CURRENT ()
Revenue	378.63
EBITDA	390.70
Profit	177.87
Earnings Per Share (EPS)	0
Dividend Per Share (DPS)	0
Yield %	5.34
Market Cap	0
Price to Earnings Ratio (P/E)	9.24

TARGET PRICE FORECAST

ESTIMATES ()
Revenue	276.22
EBITDA	188.33
Profit	144.90
Earnings Per Share (EPS)	0.80
Dividend Per Share (DPS)	0.57

BROKER CONSENSUS RECOMMENDATION

BUY

SELL

Target Price

0.00

Lt Growth Rate

0.00

Recommendation (HOLD)

3.22

OPINION

06/12/2024 09:38

Active Growth Portfolio – Amendments

We are making several changes to the Active Growth Portfolio today

06/12/2024 09:37

Active Income Portfolio – Amendment

We are taking profit on a position in the Active Income Portfolio

29/10/2024 09:34

Magellan Financial Group (MFG) $11.05

We’ve held MFG through most of 2024, and it’s been a rocky/volatile ride at times. However, as the stock looks set to make fresh highs for the year, it is finally on track to test our $12 target area.

16/10/2024 09:25

Magellan Financial Group (MFG) $10.79

In August, MFG announced the acquisition of a 29.5% stake in Vinva for $138.5m. This is an interesting deal for MFG on several levels given that Vinva is not your traditional fund's management business, and MFG was not simply buying funds under management (FUM) on the cheap to help scale, which is the more typical path for a fund manager i.e. what Regal Partners (RPL) is currently attempting with a bid for Platinum (PTM).

15/08/2024 16:57

Magellan Financial Group (MFG) $10.47

MFG +7.6%: FY24 results were a touch ahead of expectations and they announced an interesting deal to buy a 29.5% stake in Vinva Investment Management for $138.5m cash.

02/08/2024 09:25

Magellan Financial Group (MFG) $10.26

MFG reports on the 15th, with the fund manager attracting few fans after its painful retracement over recent years. Of the 10 analysts who now cover MFG, we have 4 Sells, 5 Holds, and 1 solitary Buy. However, as witnessed over recent weeks, if the news is “okay,” MFG can rally sharply. Earlier in the month, the fund manager announced its monthly funds outflows were slowing. This was coupled with a significant lift in performance fees for FY24 to $19 million.

23/07/2024 09:33

Magellan Financial Group (MFG) $9.50

MFG fell 2.7% on Monday, although not a massive move considering its recent rally from the $8 area. We have discussed MFG a few times recently, and while it is never nice to see a position you own close lower, we believe the stock is just taking a “rest” before making a concerted attempt to break out above $10.

19/07/2024 09:32

Magellan Financial Group (MFG) $9.81

MFG rallied 2% on Thursday as the stock tested its 4-month high. We discussed MFG’s strong move earlier this month, which followed mildly improving fund flows, and the manager received more welcome news yesterday evening. Duncan Saville’s Somers Limited is seeking to buy shares in Magellan-backed equities clearing firm FinClear, with the price being touted around valuing MFG’s 16% stake significantly above its $24.8 million carrying value on December 31st.

05/07/2024 09:32

Magellan Financial Group (MFG) $9.07

On Thursday, MFG was the second strongest stock on the local bourse, gaining +6.1% after announcing flat flows for June, made up of $200mn inflows from institutions and $200mn outflows from retail. This is an encouraging result, as June is a big month of outflows for retail, given pension requirements. Also, MFG announced they would receive performance fees of around $19mn.

29/05/2024 09:31

Magellan Financial Group (MFG) $8.14

MFG stood out in the loser's enclosure yesterday, falling over 3% on a fairly quiet day. The Fund Managers market cap has fallen under $1.5bn following the stock's 90% plunge from its dizzy heights in early 2020. The question we pose today after the stock's sharp pullback since late March is whether value is again presenting itself or whether we simply missed a great selling opportunity 10 weeks ago.

ACTION

MFG

UPDATED 06/12/2024 09:08

MM are selling MFG in the Active Income Portfolio, taking profit & increasing cash around $11.95

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MFG

UPDATED 06/12/2024 09:08

MM are selling MFG in the Active Growth Portfolio, taking profit & increasing cash around $11.95

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MFG

UPDATED 29/10/2024 10:06

MM is long and bullish MFG

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MFG

UPDATED 16/10/2024 09:40

MM remains long & bullish MFG across two portfolios

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MFG

UPDATED 19/08/2024 08:34

MM remains long & bullish MFG

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MFG

UPDATED 02/08/2024 09:11

MM is long and bullish MFG

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MFG

UPDATED 23/07/2024 09:45

MM is long and bullish towards MFG

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Read the opinion

MFG

UPDATED 19/07/2024 09:59

MM is long and bullish MFG

Add To Hit List

Read the opinion

MFG

UPDATED 05/07/2024 09:58

MM is long and bullish MFG

Add To Hit List

Read the opinion

MFG

UPDATED 29/05/2024 11:03

MM is long and bullish towards MFG

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Read the opinion

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 $12.18

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MFG $12.18

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

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