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Magellan Financial Group Ltd ( (AU:MFG) ) has issued an update.
Magellan Financial Group Ltd has announced an update on its ongoing on-market buy-back program, revealing that a total of 28,126 ordinary fully paid securities were bought back on the previous day, adding to the cumulative total of 14,560,829 securities repurchased since the program’s inception. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value, reflecting its commitment to optimizing financial performance and market positioning.
The most recent analyst rating on (AU:MFG) stock is a Sell with a A$8.55 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 focused on investment management. It offers a range of financial products and services, including managed funds and investment strategies, catering to both retail and institutional investors.
YTD Price Performance: -2.60%
Average Trading Volume: 627,441
Technical Sentiment Signal: Buy
Current Market Cap: A$1.71B
See more data about MFG stock on TipRanks’ Stock Analysis page.