Big ASX news: Macquarie share price hits new 52-week high

It's been a great day to own Macquarie shares…

| More on:
Man pointing at a blue rising share price graph.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It's been a fairly pleasant hump day for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 shares this Wednesday thus far. At the time of writing, the ASX 200 has risen by 0.22% and is back above 7,725 points. But let's talk about the Macquarie Group Ltd (ASX: MQG) share price.

Macquarie shares have had an even better Wednesday than the broader market. This diversified financial stock is currently up a rosy 1.12% at a flat $200 at present. Earlier this afternoon, Macquarie even rose as high as $200.05 – a new 52-week high for the company.

This represents the latest chapter in what has been a remarkable recovery for the Macquarie share price. It was only as recently as mid-November that Macquarie shares were touching new 52-week lows of around $155 a share. That means that investors have enjoyed a pleasing 26% or so gain over the past three months.

Why is Macquarie stock at a new 52-week high?

This is a rather strange 52-week high to cover, as there has been no obvious catalysts for this company's new high watermark. In fact, the last piece of major news out of Macquarie resulted in investors selling off the company.

Exactly one month ago, Macquarie released an operational briefing covering the third quarter of the 2024 financial year. The company warned that its net profits after tax were "substantially down" compared to the same period over the previous year. Saying that, Macquarie did note that the previous quarter in question was an "exceptional" one.

Even so, investors punished the Macquarie share price when this update was released, as we documented at the time.

Judging by today's new 52-week high, those same investors seem to be letting bygones be bygones. It's possible that sentiment over Macquarie shares is being pushed along by broader market sentiment. The past few weeks have seen the ASX 200 clock a series of new record highs, after all.

Perhaps Macquarie's ongoing share buybacks are helping investors with their newly found optimism too.

Macquarie share price snapshot

Of course, today's new 52-week high is not a new all-time high for the Macquarie share price. Macquarie's last record high came way back in early 2022 when the company got above $211 a share for the first time ever. It hasn't been back there since, but given the stock's recent runup, perhaps investors don't have too long to wait.

At the current Macquarie share price, this financial stock has a market capitalisation of $76.7 billion, with a dividend yield of 3.53%.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Financial Shares

Two smiling work colleagues discuss an investment or business plan at their office.
Financial Shares

What this top broker is saying about IAG shares

IAG shares are trading close to their four-year highs.

Read more »

Woman and man calculating a dividend yield.
Financial Shares

Here is the dividend forecast to 2026 for AMP shares

AMP could be a viable source of dividends. But how much will it pay?

Read more »

Keyboard button with the word sell on it.
Financial Shares

Why Goldman Sachs just slapped a sell rating on this ASX 200 stock

This blue chip has been hit with a sell rating. But why?

Read more »

Accountant woman counting an Australian money and using calculator for calculating dividend yield.
Financial Shares

If you'd invested $10,000 in Netwealth shares at the start of the year, here's how much you'd have now

Would it have been a good idea to buy Netwealth shares on 2 January?

Read more »

Australian notes and coins symbolising dividends.
Financial Shares

Why is the Macquarie share price getting hammered on Monday?

Investors shouldn't be worried about today's big share price drop...

Read more »

Happy man holding Australian dollar notes, representing dividends.
Financial Shares

What could $10,000 invested in QBE shares be worth in 12 months?

Would it be a good idea to buy this insurance giant's shares? Let's find out.

Read more »

A man looking at his laptop and thinking.
Financial Shares

Here is the earnings forecast out to 2026 for IAG shares

A leading broker has revealed where it thinks profit is headed in the next few years.

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Financial Shares

The QBE share price is marching higher on Friday. Here's why

ASX 200 investors are bidding up the QBE share price on Friday. But why?

Read more »