AMP Flicks GEFI Assets to Macquarie
AMP continues to slim itself, announcing the sale of AMP Capital’s global equities and fixed income (GEFI) business to Macquarie Asset Management in a deal worth $185 million.
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Macquarie Group Limited
Macquarie is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities.
The diversity of our operations, combined with a strong capital position and robust risk management framework, has contributed to our 50-year record of unbroken profitability.
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News
Solid Earnings, Big Dividend from Mac Bank
Macquarie Group has lifted final dividend by a massive 86% to $3.55 a share after riding the recovery in equities, bonds and commodities markets to a 10% rise in earnings for the year.
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Macquarie Sent to the Naughty Chair by APRA
Macquarie Group has been hit hard by APRA, the key financial regulator which has imposed a massive half a billion extra capital charge and other penalties for two years of breaches.
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Macquarie Moves Deeper Into The US With Waddell & Reed Buy
Rather than capital management as some investors might have hoped for, Macquarie Group will spend $US1.7 ($A2.3 billion) in cash on buying American funds management company, Waddell & Reed Financial.
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Macquarie Group Cuts Dividend As H1 Profit Falls 32%
Macquarie Group has joined its larger peers in cutting its dividend after a slide in earnings. The investment bank said on Friday that first-half earnings fell 32% to $985 million as at September 30 as impairments and other costs in its Key Capital arm rose thanks to the continuing ripples from the COVID-19 pandemic.
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Analyst Views
MQG – Citi rates the stock as Sell
Citi maintains a Sell rating as the valuation and expectations appear stretched near-term. Despite this, Citi raises the target to $140 from $125.
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MQG – Morgans rates the stock as Add
Macquarie Group has upgraded recent guidance for profit (NPAT) to be “slightly down on FY20” to now “up around 5%-10%” on pcp. Morgans' Add rating is unchanged and the target price increased to $162.3 from $147.
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MQG – Morgans rates the stock as Add
Macquarie Group has announced the acquisition of Waddell & Reed Financial (WRF), a US-listed Asset Management (AM) and Wealth Management (WM) business.
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MQG – UBS rates the stock as Neutral
Macquarie Group has announced, with two weeks remaining in the first half, it expects profit (NPAT) to be around $950m. This is around -25% lower than the second half of 2020.
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