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Magellan Financial Group Ltd ( (AU:MFG) ) just unveiled an announcement.
Magellan Financial Group Limited, an Australian-listed investment manager, focuses on global equity and infrastructure strategies for both institutional and retail clients, with its ordinary fully paid shares trading on the ASX under ticker MFG. The company has provided an update on its ongoing on-market share buy-back program, disclosing that a total of 17,924,619 shares had been repurchased prior to the latest reporting date, with a further 110,854 shares bought back on the previous trading day; this continued daily execution of the buy-back, originally notified in March 2022, signals ongoing capital management efforts that may support earnings per share and reflects management’s commitment to returning capital to shareholders.
The most recent analyst rating on (AU:MFG) stock is a Hold with a A$10.70 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 Limited is an Australia-based investment management company whose primary business is managing global equity and infrastructure funds for institutional and retail investors, with its shares listed on the ASX under the code MFG.
Average Trading Volume: 463,410
Technical Sentiment Signal: Buy
Current Market Cap: A$1.64B
See more insights into MFG stock on TipRanks’ Stock Analysis page.