Magellan Financial Group Updates on Share Buy-Back Progress
Magellan Financial Group Ltd (AU:MFG) has updated its on-market buy-back program, repurchasing 14,912,919 ordinary securities, including 21,543 on the previous day. This initiative aims to manage capital structure and enhance shareholder value. Analysts rate MFG stock as a Buy with a price target of A$11.00. The company focuses on investment management, offering products for retail and institutional investors, particularly in global equities and infrastructure. Year-to-date price performance is -2.60%, with a market cap of A$1.71B.
The latest announcement is out from Magellan Financial Group Ltd ( (AU:MFG) ).
Magellan Financial Group Ltd has announced an update regarding its ongoing on-market buy-back program. As of the latest notification, the company has repurchased a total of 14,912,919 ordinary fully paid securities, including 21,543 securities bought back on the previous day. This buy-back initiative is part of Magellan’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (AU:MFG) stock is a Buy with a A$11.00 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 company in the financial services industry, primarily focused on investment management. It offers a range of investment products and services aimed at both retail and institutional investors, with a significant focus on global equities and infrastructure strategies.
YTD Price Performance: -2.60%
Average Trading Volume: 591,375
Technical Sentiment Signal: Buy
Current Market Cap: A$1.71B
For a thorough assessment of MFG stock, go to TipRanks’ Stock Analysis page.
