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Macquarie Group Limited ( (AU:MQG) ) has issued an update.
Macquarie Group Limited announced a half-year net profit of $A1,655 million, marking a 3% increase from the previous year but a 21% decrease from the prior half-year. The company’s assets under management rose to $A959.1 billion, reflecting favorable market movements. Despite a higher effective tax rate, the company maintained a strong financial position with a capital surplus of $A7.6 billion, exceeding regulatory requirements. The announcement highlights the company’s strategic investments in growth opportunities and its robust performance across various operating groups, although some areas like Commodities and Global Markets faced challenges due to increased expenses.
The most recent analyst rating on (AU:MQG) stock is a Hold with a A$226.00 price target. To see the full list of analyst forecasts on Macquarie Group Limited stock, see the AU:MQG Stock Forecast page.
More about Macquarie Group Limited
Macquarie Group Limited is a global financial services company based in Sydney, Australia. It operates in various sectors including asset management, banking, financial services, and commodities and global markets. The company is known for its diverse business mix and focuses on long-term growth and delivering positive outcomes for its clients and communities.
Average Trading Volume: 591,636
Technical Sentiment Signal: Buy
Current Market Cap: A$79.4B
Learn more about MQG stock on TipRanks’ Stock Analysis page.