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Magellan Financial Group (MFG)

ASX.MFG $9.62

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MFG $9.62

20 MINUTE DELAYED

TODAY

-3.22 %

1 YEAR RETURN

0.00%

VOLUME

506,429

DIV YIELD

6.77%

PE RATIO

7.30

52 WEEK RANGE

6.06

10.96

ANALYSIS
OPINION
ACTION

ANALYSIS

Overview

SHARE PRICE ACTIVITY
Last (Price)	9.62
Change	-0.32 (-3.22)
Bid / Ask	9.60 - 9.65
Volume	506,429
Turnover	4,886,680
Open	9.89
Day Range	9.51 - 9.90
VWAP	9.65
Prev Close	9.94
Last Trade	04/10 4:10pm (AEST)

KEY INFORMATION
Sector	Financial
Shares Issued	169,883,476
NTA/Share	0.00
Last Dividend	0.36
Dividend Ex Date	20 AUG 2024
Dividend Pay Date	04 SEP 2024

CURRENT ()
Revenue	431.65
EBITDA	275.82
Profit	174.31
Earnings Per Share (EPS)	0
Dividend Per Share (DPS)	0
Yield %	6.77
Market Cap	0
Price to Earnings Ratio (P/E)	7.3

TARGET PRICE FORECAST

ESTIMATES ()
Revenue	276.02
EBITDA	186.39
Profit	140.39
Earnings Per Share (EPS)	0.78
Dividend Per Share (DPS)	0.56

BROKER CONSENSUS RECOMMENDATION

BUY

SELL

Target Price

0.00

Lt Growth Rate

0.00

Recommendation (HOLD)

3.44

OPINION

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.

09/05/2024 09:04

Magellan Financial Group (MFG) $8.76

Recent years have been arduous for MFG as the company dealt with underperformance, subsequent significant outflows, and the messy departure of its founding figurehead, Hamish Douglass. However, from current levels, the core reason that we own MFG is its balance sheet, an area we think the market has been overlooking in the midst of the negative sentiment towards the business. Also, we felt this month's Funds Under Management (FUM) update was positive, with MFG announcing nil outflows.

06/05/2024 16:50

Magellan Financial Group (MFG) $8.74

MFG unch: the fund manager closed flat on the session, giving back early strength following what was largely a positive Funds Under Management (FUM) update. The company announced net nil FUM outflows in April, a positive sign after a torrid run of redemptions and another sign that fortunes might be starting to turn.

30/04/2024 09:09

Magellan Financial Group (MFG) $8.97

Fund manager MFG has been a volatile stock, which we have touched on a few times in 2024. We are fans of the risk/reward around $9, having recently purchased the stock for our Active Income Portfolio attracted by its projected ~7%, largely franked yield over the next 12-months. Also, approx.

12/04/2024 09:14

Active Income Portfolio – Amendment

We are adding a stock to the Income Portfolio today

ACTION

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

Add To Hit List

Read the opinion

MFG

UPDATED 09/05/2024 09:48

MM is long and bullish MFG

Add To Hit List

Read the opinion

MFG

UPDATED 06/05/2024 16:56

MM is long and bullish MFG

Add To Hit List

Read the opinion

MFG

UPDATED 30/04/2024 16:40

MM remains long and bullish towards MFG

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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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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 $9.62

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MFG $9.62

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

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