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Magellan Financial Group Ltd ( (AU:MFG) ) just unveiled an update.
Magellan Financial Group Ltd has announced a daily update on its ongoing on-market buy-back program, revealing that a total of 40,000 ordinary fully paid securities were bought back on the previous day, adding to the cumulative total of 14,160,829 securities repurchased since the program’s inception. This buy-back initiative is part of the company’s strategy to optimize its capital structure and potentially enhance shareholder value, reflecting its commitment to efficient capital management.
The most recent analyst rating on (AU:MFG) stock is a Sell with a A$8.65 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 operating in the financial services industry, primarily focusing on investment management. The company is known for offering a range of investment products and services, catering to both individual and institutional investors.
YTD Price Performance: -4.35%
Average Trading Volume: 691,958
Technical Sentiment Signal: Buy
Current Market Cap: A$1.69B
Find detailed analytics on MFG stock on TipRanks’ Stock Analysis page.