23/04/2024 09:05

Macquarie Group (MQG) $186.61

MQG has lived up to its high Beta reputation within the sector, falling 10% over recent weeks, we’re comfortable being on the sidelines at this stage of the cycle.

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15/03/2024 09:13

Macquarie Group Ltd (MQG) $197.33

MQG slipped 1.1% on Thursday, largely ignored by the bank sellers. The company's tepid trading update in February was more a case of deals being pushed back rather than being shelved.

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13/02/2024 16:46

Macquarie Group (MQG) $186.25

MQG -1%:  A trading update that was met by some fairly aggressive selling on open this morning, the stock opening ~$180 before recovering strongly throughout the day. They talked to softer conditions for M&A and deal flow, asset sales have also been light on while they highlighted a materially weaker year-on-year trend, although this period last year was a stormer!

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31/01/2024 09:11

Macquarie Group Ltd (MQG) $188.01

Macquarie Group (MQG) has advanced +2.4% so far this year, taking it within striking distance of its 2023 high. We have been targeting a break above $196 by the current rally, but with interest rates set to fall in 2024 and MQG not due to report until May, it makes sense to take some profit now, affording us some extra flexibility into reporting season.

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16/01/2024 08:40

Macquarie Group Ltd (MQG) $184.43

MQG can often be regarded as a high Beta “Banking Play”; hence, if/when it breaks above its 2023 high, it may provide an ideal opportunity to migrate down the risk curve within this influential sector, e.g. we could switch into Commonwealth Bank (CBA) in time for its attractive February dividend even though the country’s largest bank will look “rich” above $115.

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21/12/2023 09:00

Macquarie Group Ltd (MQG) $183.02

We like the high Beta MQG, but if the market goes through a “sticky period”, it's likely to underperform the “Big Four”; hence we might reduce our 6% holding into strength.

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14/12/2023 09:10

Macquarie Group Ltd (MQG) $172.37

Like much of the Banking Sector, MQG is little changed so far in 2023, but at least its ~4% yield has helped loyal investors who receive a $2.55 dividend, 40% franked, on Monday. MQG has always been regarded akin to a US investment bank as opposed to the traditional “Big Four”, but over recent years, it has increased its penetration into residential mortgages.

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14/11/2023 09:29

Macquarie Group Ltd (MQG) $158.53

MQG fell -$4.22 in absolute terms on Monday, or -2.6%, but we should remember the stock traded ex-dividend $2.55, 40% franked. Hence, the stock only slipped -1%, including the dividend, which was not a major move in a weak market, although the current momentum isn’t good, and we can see a break to fresh 2-year lows unless we see a Christmas rally sooner rather than later.

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08/11/2023 09:17

Macquarie Group Ltd (MQG) $159.29

Tuesday saw Macquarie (MQG) fall -1.5%, reversing early gains following the RBA decision, it was the 3rd worst-performing stock in our portfolio over the week. In August, they provided a quarterly trading update that foreshadowed some of the weakness that unfolded at their 1H24 result last Friday - three out of its four operating divisions are having a tougher time. This ‘flat spot’ has led to ongoing underperformance at the stock level, in line with the market characteristic since COVID where operational weakness is being shunned by investors.

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03/11/2023 16:41

Macquarie Group (MQG) $163.24

MQG +1.78%: A softer-than-expected 1H24 result today driven mainly by weaker performance from Macquarie Asset Management (MAM) - net profit of $1.42bn was below consensus of $1.69bn and they declared an Interim dividend of $2.55, ahead of the $2.25 expected. While their overall guidance for the year suggests some stabilisation in 2H earnings.

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