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Man Group plc
(LSE:EMG)
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Rating:76Outperform
Price Target:
339.00 p
â–²(11.37% Upside)
Action:Reiterated
Date:07/28/26
The score is driven primarily by solid financial fundamentals (revenue rebound and positive free cash flow) and a strong earnings call featuring record AUM, inflows, fee growth, and improved margins with reiterated profitability and capital-return guidance. Technicals are supportive with price above key moving averages. Valuation is the main restraint, as a ~25.75 P/E offsets the benefit of a ~4.23% dividend yield.
Positive Factors
Record AUM and diversified client inflows
Record AUM and broad-based net inflows strengthen the recurring management-fee base. Positive flows across product categories and institutional and wealth channels reduce reliance on any single client segment or strategy.
Negative Factors
Margin compression and higher leverage
Although revenue recovered, weaker profit conversion and increased leverage reduce financial resilience relative to prior periods. Sustained margin pressure or further balance-sheet expansion could constrain reinvestment and future capital distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Record AUM and diversified client inflows
Record AUM and broad-based net inflows strengthen the recurring management-fee base. Positive flows across product categories and institutional and wealth channels reduce reliance on any single client segment or strategy.
Read all positive factors
Man Group plc (EMG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.38B
Dividend Yield4.15%
Average Volume (3M)3.18M
Price to Earnings (P/E)14.2
Beta (1Y)1.20
Revenue Growth23.65%
EPS Growth73.43%
CountryUK
Employees1,719
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.29
Shares Outstanding1,141,892,300
10 Day Avg. Volume2,336,312
30 Day Avg. Volume3,179,209
Financial Highlights & Ratios
PEG Ratio-0.50
Price to Book (P/B)2.22
Price to Sales (P/S)2.34
P/FCF Ratio13.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£347.50Price Target Upside14.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.43
Revenue Forecast (FY)£1.83B
Man Group plc Business Overview & Revenue Model
Company Description
Man Group Limited is a publicly owned investment manager. The firm provides long-only and alternative investment management services worldwide. It offers a range of liquid investment products and solutions, which include quantitative, multi-manage...
How the Company Makes Money
Man Group primarily makes money by charging fees on assets it manages for clients. The main revenue stream is management fees (often calculated as a percentage of assets under management, AUM) earned for running investment funds and segregated man...
Man Group plc Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 02, 2027
Earnings Call Sentiment Positive
The call reported broad-based, multi-dimensional progress: record AUM, strong net inflows and gross flows, double-digit growth in management fees, materially higher performance fees and improved margins. Credit and long-only strategies were particular strengths, AI adoption and North America expansion provide long-term growth catalysts, and the balance sheet supports capital returns. Challenges were limited to pockets of strategy underperformance (e.g., AHL Evolution, Japan value), FX headwinds, a one-off increased provision and some seed book exposure. Overall the positive operational and financial momentum materially outweighs the noted headwinds.Positive Updates
Record AUM and Strong Asset Growth
Total AUM reached a record $253.6 billion, up $26.0 billion or 11% since the end of December, driven by $19.8 billion of positive investment performance and $7.1 billion of net inflows.
Negative Updates
Selective Strategy Underperformance
AHL Evolution returned -3.7% in H1 and Man Japan CoreAlpha faced challenges amid a difficult period for value investing in the region, indicating pockets of underperformance within the platform.
Read all updates
Q2-2026 Updates
Positive
Negative
Record AUM and Strong Asset Growth
Total AUM reached a record $253.6 billion, up $26.0 billion or 11% since the end of December, driven by $19.8 billion of positive investment performance and $7.1 billion of net inflows.
Read all positive updates
Company Guidance
The management reiterated clear guidance on capital and profitability: the Board declared an interim dividend of $0.057 per share (one‑third of FY‑25’s dividend), an ongoing $50m share buyback (about $21m remaining) and a capital allocation waterfall of progressive dividends, organic/inorganic deployment and returning surplus capital (likely via buybacks); they also confirmed an indicative core PBT margin target range of 30–40% (H1 delivered 35%) and said this guidance already incorporates planned AI investments. Key related metrics cited were record AUM $253.6bn (up $26bn/11% since Dec), H1 net inflows $7.1bn, investment performance $19.8bn, core net revenue $853m (net management fees $627m, +21% YoY; core performance fees $207m, >3x H1‑25), run‑rate net management fees >$1.3bn, performance‑fee‑eligible AUM $69.2bn (high‑watermark $53.3bn from $36.6bn), ~$290m of accrued performance fees as at 24 July, net tangible assets $758m (cash $152m) and H1 shareholder returns of $114m; the firm expects the PIFSS judgment likely in Q4.Man Group plc Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.74B | 1.49B | 1.43B | 1.17B | 1.73B | 1.48B |
| Gross Profit | 1.43B | 1.20B | 921.00M | 762.00M | 1.24B | 787.00M |
| EBITDA | 553.49M | 362.45M | 499.00M | 377.00M | 856.00M | 709.00M |
| Net Income | 323.95M | 178.67M | 298.00M | 234.00M | 608.00M | 487.00M |
Balance Sheet | ||||||
| Total Assets | 4.18B | 4.76B | 4.57B | 4.38B | 3.30B | 2.92B |
| Cash, Cash Equivalents and Short-Term Investments | 281.45M | 291.11M | 225.00M | 180.00M | 457.00M | 323.00M |
| Total Debt | 305.00M | 284.00M | 248.00M | 423.00M | 253.00M | 250.00M |
| Total Liabilities | 2.58B | 3.19B | 2.90B | 2.77B | 1.60B | 1.27B |
| Stockholders Equity | 1.60B | 1.57B | 1.68B | 1.61B | 1.70B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | 400.08M | 261.37M | 607.00M | 304.00M | 692.00M | 435.00M |
| Operating Cash Flow | 419.69M | 279.75M | 648.00M | 337.00M | 737.00M | 484.00M |
| Investing Cash Flow | -92.25M | -76.57M | -29.00M | -191.00M | -40.00M | -67.00M |
| Financing Cash Flow | -387.96M | -351.22M | -439.00M | -329.00M | -623.00M | -377.00M |
Man Group plc Technical Analysis
Positive
304.40
Price Trends
303.51
Positive
289.62
Positive
263.95
Positive
Market Momentum
0.48
Positive
49.15
Neutral
67.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EMG, the sentiment is Positive. The current price of 304.4 is below the 20-day moving average (MA) of 306.84, above the 50-day MA of 303.51, and above the 200-day MA of 263.95, indicating a neutral trend. The MACD of 0.48 indicates Positive momentum. The RSI at 49.15 is Neutral, neither overbought nor oversold. The STOCH value of 67.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:EMG.
Man Group plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £3.38B | 14.22 | 20.41% | 4.15% | 23.65% | 73.43% | |
74 Outperform | £803.13M | 7.75 | 11.59% | 7.25% | 37.81% | 83.65% | |
74 Outperform | £4.42B | 11.35 | 7.37% | 5.88% | 2.19% | 19.78% | |
74 Outperform | £9.07B | 13.30 | 15.55% | 3.76% | 17.81% | 93.71% | |
69 Neutral | £4.01B | 12.03 | 28.08% | 6.37% | 9.80% | 1.81% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
55 Neutral | £7.92B | -72.10 | -3.86% | 6.20% | 67.89% | -87.40% |
* Financial Sector Average
GB:EMG
Man Group plc
305.00
153.36
101.13%
GB:JUP
Jupiter Fund Management Plc
161.40
46.20
40.10%
GB:SDR
Schroders
585.00
221.23
60.82%
GB:ABDN
Aberdeen Group
248.20
73.51
42.08%
GB:MNG
M&G Plc
332.40
93.56
39.18%
GB:N91
Ninety One
210.20
24.80
13.38%
Man Group plc Corporate Events
Business Operations and StrategyStock Buyback
Man Group Continues Treasury Share Buybacks Under US$50 Million Programme
Positive
Aug 17, 2026
Man Group plc has continued its previously announced US$50 million share repurchase programme, buying back a total of 506,236 ordinary shares between 10 and 13 August 2026 through Barclays Capital Securities Limited on the London Stock Exchange. T...
Business Operations and StrategyStock Buyback
Man Group Expands Treasury Stock with Latest Share Buybacks
Positive
Aug 10, 2026
Man Group plc has continued executing its US$50 million share repurchase programme, buying 631,391 ordinary shares on the London Stock Exchange between 3 and 7 August 2026 through Barclays Capital Securities. The purchases were made as on-exchange...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Man Group Director Dixit Joshi Resigns for Middle East Asset Management Role
Negative
Aug 7, 2026
Man Group plc has announced the immediate resignation of non-executive director Dixit Joshi, who also served on the Audit and Risk Committee and the Nomination and Governance Committee, as he departs to take a full-time executive role with a Middl...
Business Operations and StrategyStock Buyback
Man Group Continues Share Buyback, Boosts Treasury Stock Holdings
Positive
Aug 3, 2026
Man Group plc has continued executing its previously announced US$50 million share repurchase programme, buying back a total of 623,702 ordinary shares between 27 and 31 July 2026 through Barclays Capital Securities Limited on the London Stock Exc...
Regulatory Filings and Compliance
Man Group Updates Share Capital and Voting Rights Figures
Neutral
Aug 3, 2026
Man Group plc reported that, as of 31 July 2026, its total issued listed share capital stood at 1,229,361,229 ordinary shares, of which 84,409,196 are held in treasury, leaving 1,144,952,033 ordinary shares in circulation with voting rights. The c...
Regulatory Filings and Compliance
Man Group CFO Antoine Forterre Sells 500,000 Shares on London Market
Neutral
Jul 29, 2026
Man Group plc disclosed that its Chief Financial Officer and Chief Operating Officer, Antoine Forterre, has sold 500,000 ordinary shares in the company. The transaction, executed on 28 July 2026 on the London Stock Exchange’s main market, wa...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Man Group posts record AUM and earnings as diversification pays off
Positive
Jul 28, 2026
Man Group reported a strong first-half performance, with assets under management rising to a record $253.6 billion on the back of $19.8 billion of positive investment performance and $7.1 billion of net inflows. Core net management fee revenue cli...
Business Operations and StrategyStock Buyback
Man Group Tightens Free Float With Continued Share Buybacks
Positive
Jul 27, 2026
Man Group plc has continued to execute its US$50 million share repurchase programme, buying 703, -? Wait. I’ll rewrite properly.Man Group plc is a London-listed active investment manager specialising in alternative and traditional investment...
Business Operations and StrategyStock Buyback
Man Group advances US$50m buyback, lifts treasury share holdings
Positive
Jul 20, 2026
Man Group plc has continued to execute its US$50 million share repurchase programme, buying back 657,973 ordinary shares between 13 and 17 July 2026 on the London Stock Exchange through Barclays Capital Securities Limited. The shares, purchased at...
Business Operations and StrategyStock Buyback
Man Group Adds 690,000 Shares to Treasury in Ongoing Buyback
Positive
Jul 13, 2026
Man Group plc has continued to execute its previously announced US$50 million share repurchase programme, buying a total of 689,902 ordinary shares between 6 and 10 July 2026 via Barclays Capital Securities on the London Stock Exchange. The shares...
Business Operations and StrategyStock Buyback
Man Group Advances US$50m Share Buyback, Boosts Treasury Stock
Positive
Jul 6, 2026
Man Group plc has continued executing its previously announced US$50 million share repurchase programme, buying a series of ordinary shares on the London Stock Exchange between 29 June and 3 July 2026 through Barclays Capital Securities Limited. T...
Regulatory Filings and Compliance
Man Group Updates Total Voting Rights and Share Capital Structure
Neutral
Jul 1, 2026
Man Group plc reported that its total issued listed share capital as of 30 June 2026 stood at 1,229,361,229 ordinary shares, each fully paid, with 81,310,905 of these held in treasury. This leaves 1,148,050,324 ordinary shares carrying voting righ...
Business Operations and StrategyStock Buyback
Man Group Advances US$50 Million Share Buyback, Adds to Treasury Stock
Positive
Jun 29, 2026
Man Group plc has continued executing its previously announced US$50 million share repurchase programme, buying back 751,626 ordinary shares on the London Stock Exchange between 22 June and 26 June 2026 through Barclays Capital Securities Limited....
Regulatory Filings and Compliance
Man Group Senior Independent Director Increases Stake with Share Purchase
Positive
Jun 26, 2026
Man Group plc reported that its Senior Independent Director, Laurie Fitch, has purchased 15,000 ordinary shares in the company at a price of 285.2396 pence per share. The transaction, conducted on 26 June 2026 on the London Stock Exchange’s ...
Business Operations and StrategyStock Buyback
Man Group Adds to Treasury Stock with Ongoing Share Buyback
Positive
Jun 22, 2026
Man Group plc has repurchased a series of its own ordinary shares on the London Stock Exchange between 15 and 19 June 2026 under its previously announced US$50 million share buyback programme. The transactions, executed by Barclays Capital Securit...
Business Operations and StrategyStock Buyback
Man Group Advances US$50m Buyback With Further Treasury Share Purchases
Positive
Jun 15, 2026
Man Group plc has continued executing its previously announced US$50 million share repurchase programme, buying back around 729,000 ordinary shares on the London Stock Exchange between 8 and 12 June 2026 via Barclays Capital Securities. The shares...
Business Operations and StrategyStock Buyback
Man Group Expands Treasury Stock with Ongoing Share Buyback
Positive
Jun 8, 2026
Man Group plc has continued executing its previously announced US$50 million share repurchase programme, buying back a series of ordinary shares between 1 and 5 June 2026 via Barclays Capital Securities on the London Stock Exchange. The purchased ...
Business Operations and StrategyStock Buyback
Man Group Continues US$50m Buyback, Lifts Treasury Holdings
Positive
Jun 1, 2026
Man Group plc has continued to execute its US$50 million share repurchase programme, buying 521,078 ordinary shares on the London Stock Exchange between 26 and 29 May 2026 via Barclays Capital Securities. The purchases, conducted as on-exchange tr...
Regulatory Filings and Compliance
Man Group Updates Market on Total Voting Share Capital
Neutral
Jun 1, 2026
Man Group plc reported that as of 29 May 2026 its total issued listed share capital stood at 1,229,361,229 ordinary shares, of which 78,159,937 are held in treasury. This leaves 1,151,201,292 ordinary shares carrying voting rights, a key reference...
DividendsRegulatory Filings and Compliance
Man Group Directors Reinvest Dividends in Additional Shares
Positive
May 26, 2026
Man Group has disclosed that senior independent director Laurie Fitch and non-executive director Dixit Joshi have both acquired additional ordinary shares through the company’s Dividend Reinvestment Plan. Fitch bought 3,101 shares and Joshi ...
Business Operations and StrategyStock Buyback
Man Group Advances US$50m Buyback, Increases Treasury Share Holding
Positive
May 26, 2026
Man Group plc has continued to execute its recently announced US$50 million share repurchase programme, buying a total of 714,113 ordinary shares on the London Stock Exchange between 18 and 22 May 2026 through Barclays Capital Securities Limited. ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Man Group Advances US$50 Million Share Buyback, Adds to Treasury Stock
Positive
May 18, 2026
Man Group plc has repurchased 554,537 of its own ordinary shares between 12 and 15 May 2026 as part of a previously announced US$50 million share buyback programme executed through Barclays Capital Securities on the London Stock Exchange. The comp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.