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Magellan Financial Group (MFG)

ASX.MFG $7.44

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ASX.MFG $7.44

20 MINUTE DELAYED

TODAY

0.00 %

1 YEAR RETURN

0.00%

VOLUME

DIV YIELD

11.65%

PE RATIO

7.44

52 WEEK RANGE

6.06

10.73

ANALYSIS
OPINION
ACTION

ANALYSIS

Overview

SHARE PRICE ACTIVITY
Last (Price)	7.44
Change	0.00 (0.00)
Bid / Ask	7.35 - 7.47
Volume	0
Volume (3mths avg)	0
Turnover	0
Open	0.00
Day Range	7.30 - 7.49
VWAP	0.00
Prev Close	7.44
Last Trade	01/12 6:10am (AEST)

KEY INFORMATION
Sector	Financial
Shares Issued	167,662,294
NTA/Share	0.00
Last Dividend	0.70
Dividend Ex Date	23 AUG 2023
Dividend Pay Date	07 SEP 2023

CURRENT ()
Revenue	647.25
EBITDA	520.08
Profit	399.73
Earnings Per Share (EPS)	0
Dividend Per Share (DPS)	0
Yield %	11.65
Market Cap	0
Price to Earnings Ratio (P/E)	7.44

TARGET PRICE FORECAST

ESTIMATES ()
Revenue	273.46
EBITDA	175.67
Profit	132.45
Earnings Per Share (EPS)	0.74
Dividend Per Share (DPS)	0.62

BROKER CONSENSUS RECOMMENDATION

BUY

SELL

Target Price

0.00

Lt Growth Rate

0.00

Recommendation (HOLD)

3.20

OPINION

18/10/2023 09:13

Magellan Financial Group (MFG) $6.61

While we don’t get wedded to positions at MM, and we are very conscious of maintaining an appropriate position size for the risks of any one stock, we think MFG at current levels represents clear value. NB: We are down 13% on our position in the Income Portfolio & 18% in our Growth Portfolio

17/10/2023 09:12

Magellan Financial Group (MFG) $6.55

MFG fell another -4.1%, making it the day's 7th worst-performing stock after the company announced it was considering converting their $2.65bn global closed-end fund to an open exchange-traded fund in 1H of 2024 - good for fund investors but not so good for the fund manager. This move should see the funds (MGF) current ~8.8% discount to NAV narrow over the coming months. The much-discussed options in the fund (MGFO) soared to 2.3c.

06/10/2023 16:42

Magellan Financial Group (MFG) $7.18

MFG -18.5%: Endured a very tough session today following the resumption of big outflows exacerbated by weakness across financial markets in September. Total FUM dropped from $39bn to $35bn, over 10%, made up of $2bn in net outflows and $2bn due to market weakness.

31/08/2023 17:06

Magellan Financial Group (MFG) $8.95

MFG -5.79%: hit hard today from 2.30 pm onwards when an article dropped that said Regal’s (RPL) purchase of ~$112m in MFG stock from founder Chris Mackay at $9.40 was more about short covering than a play for the asset manager. While it seems likely that some of the purchase did cover a short, there is every chance that the trade would send them from net short to net long.

24/08/2023 09:34

Magellan Financial Group (MFG) $9.70

MFG fell -8.1% yesterday but after taking into account that it traded ex-dividend ~70c (85% franked) it only slipped marginally with much of the damage occurring in the match.

18/08/2023 16:42

Magellan Financial Group (MFG) $10.42

MFG +13.26%: Rallied today on FY23 results that came in largely as expected from an earnings perspective (NPAT of $174m), while they announced a final dividend of 39.8¢.

01/08/2023 09:48

Magellan Financial Group (MFG) $9.33

Our purchase of MFG in late June has been a bumpier ride after announcing large outflows just a few weeks later but encouragingly the markets eroded those losses on no fresh news.

06/07/2023 16:37

Magellan (MFG) $8.92

MFG -8.32%: shares in the fund manager struggled today following a weak Funds Under Administration (FUM) update, coupled with a soft day across the broader market.

04/07/2023 09:36

Magellan Financial Group (MFG) $9.75

MFG is another high beta recovery stock that MM bought last week which has also enjoyed a strong rally from its recent lows, this time to the tune of +14%. We believe improving performance will drive better FUM flow and some more pronounced capital management could also spice things up leading to a re-rating on the upside.

29/06/2023 09:18

Magellan Financial Group Ltd (MFG) $9.22

Out of favour, fund manager MFG rallied +4.4% yesterday, only 48 hours after it was flagged as being worth $15 a share by activist investor Sandon Capital in the AFR. The logic centred around the company consolidating its FUM and returning around $300mn of invested funds to investors. They have a similar view to our own, although we have a lower valuation for their principal investments than the more bullish Sandon.

ACTION

MFG

UPDATED 18/10/2023 10:02

MM remains long, and cautiously bullish MFG ~$6.60

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MFG

UPDATED 17/10/2023 09:56

MM is long and cautiously bullish toward MFG

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MFG

UPDATED 06/10/2023 16:24

MM is reviewing its MFG position

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MFG

UPDATED 31/08/2023 16:58

MM remains long & bullish MFG across two portfolios

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MFG

UPDATED 24/08/2023 16:41

MM is long and bullish toward MFG

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MFG

UPDATED 21/08/2023 17:08

MM remains long and bullish MFG across two portfolios

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MFG

UPDATED 01/08/2023 17:20

MM is long and bullish toward MFG

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MFG

UPDATED 07/07/2023 09:11

MM is long and bullish MFG

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MFG

UPDATED 06/07/2023 08:45

MM is long and bullish toward MFG

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MFG

UPDATED 29/06/2023 08:53

MM is now bullish & long MFG

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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 $7.44

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ASX.MFG $7.44

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

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