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Magellan Financial Group Ltd ( (AU:MFG) ) has provided an update.
Magellan Financial Group Ltd has announced changes to its segment reporting structure, effective from FY25, to better reflect earnings from its core business activities. The changes include adjustments to the Operating Profit disclosure and segment presentation, specifically excluding certain fair value movements and deferred tax on undistributed Associate profits, and combining segments into a single ‘Partnerships and Investments’ segment. These adjustments are intended to provide clearer insights into the company’s financial performance, with no impact on historical statutory profit results.
The most recent analyst rating on (AU:MFG) stock is a Sell with a A$8.20 price target. To see the full list of analyst forecasts on Magellan Financial Group Ltd stock, see the AU:MFG Stock Forecast page.
More about Magellan Financial Group Ltd
Magellan Financial Group Ltd is a specialist financial services company based in Sydney, Australia, established in 2006. It manages approximately $39.6 billion in assets across global equities, global listed infrastructure, and Australian equities strategies, catering to retail, high net worth, and institutional investors. The company is listed on the Australian Securities Exchange and has strategic partnerships and investments in Barrenjoey Capital Partners, Vinva Investment Management, and FinClear.
Average Trading Volume: 790,887
Technical Sentiment Signal: Hold
Current Market Cap: A$1.49B
For a thorough assessment of MFG stock, go to TipRanks’ Stock Analysis page.