Magellan Financial Group Updates on Share Buy-Back Progress
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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.
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