Magellan Financial Group (ASX:MFG) Stock Price Crosses Below Two Hundred Day Moving Average of $45.68

Magellan Financial Group Ltd (ASX:MFG)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $45.68 and traded as low as $51.05. Magellan Financial Group shares last traded at $51.40, with a volume of 640,597 shares traded.

The firm has a market cap of $9.36 billion and a price-to-earnings ratio of 24.12. The firm has a 50 day moving average price of A$57.21 and a 200-day moving average price of A$45.68.

The company also recently declared a Final dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 29th were paid a dividend of $1.114 per share. This represents a dividend yield of 2%. The ex-dividend date was Friday, August 16th. Magellan Financial Group’s dividend payout ratio (DPR) is presently 86.81%.

In other news, insider Hamish Douglass purchased 420,450 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of A$60.72 ($43.06) per share, with a total value of A$25,529,724.00 ($18,106,187.23).

About Magellan Financial Group (ASX:MFG)

Magellan Financial Group is a publicly owned investment manager. The firm provide its services to high net worth, retail, and institutional investors. Magellan Financial Group is based in Sydney, Australia.

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