Macquarie shares: Buy, hold or sell?

Two top analysts offer their outlook for Macquarie's outperforming shares.

Macquarie Group Ltd (ASX: MQG) shares have a lengthy track record of strong performance.

On Tuesday, shares in the S&P/ASX 200 Index (ASX: XJO) diversified financial stock closed trading for $232.12 each.

That sees Macquarie shares up 13.9% in 2026, handily beating the 0.2% year to date losses posted by the benchmark index.

Taking a step back, the ASX 200 financial stock is up 19.4% over 12 months, compared to the 8.9% one-year gain delivered by the benchmark index.

And that's not including the two partly franked dividends Macquarie paid to eligible stockholders over this time. The ASX 200 stock trades on a partly franked 2.9% trailing dividend yield.

That's a look in the rearview. The question now is, should you buy the ASX financial stock today?

Sell buy and hold on a digital screen with a man pointing at the sell square.

Image source: Getty Images

Outlook 'bright' for Macquarie shares

MPC Markets' Jonathan Tacadena recently ran his slide rule over the financial company (courtesy of The Bull).

"This global financial services company operates in more than 30 markets," said Tacadena, who has a buy rating on Macquarie shares.

"Businesses include asset management, banking and financial services and commodity and global markets," he added.

Summarising his bullish outlook on the ASX 200 stock, Tacadena said:

Its diversification appeals to investors, particularly in volatile markets. The trading desk has been a driver of growth in previous years and we suspect it will feature prominently at the company's full year results due in May.

The shares have surged from $191.53 on March 4 to trade at $229.95 on April 23. We believe the company's outlook is bright. The company's solid track record has stood the test of time.

Which brings us to…

The (slightly) less bullish case for the ASX 200 financial stock

Morgans' Damien Nguyen also had a look into Macquarie stock on The Bull this week.

"Macquarie is a diversified financial services group with strengths across asset management, infrastructure and global markets," he noted.

"Its business model benefits from long term infrastructure investment and energy transition themes, but earnings can be volatile due to market conditions," Nguyen added.

But with the big run higher in Macquarie shares since early March, Nguyen issued a hold recommendation on the stock.

According to Nguyen:

Recent performance has been solid, and much of the medium-term opportunity is already reflected in the share price, in our view. While Macquarie remains a high-quality company with strong management, near term upside looks balanced by cyclical and market risks.

At current levels, a hold is appropriate.

Motley Fool contributor Bernd Struben 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.

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