The Macquarie Group Ltd (ASX: MQG) share price broke the $100 mark today, the highest it has ever been in its illustrious history.
Prior to this year, the last time Macquarie's share price was this high it reached $97.10 in May 2007 just before the global financial crisis began.
Since then, the group has done a good job of focusing on its annuity-style businesses which make Macquarie better placed than it has been previously to withstand turbulent markets that would impact its capital markets business.
Investors have also been encouraged by positive results from the group which handed in a net profit of $1.25 billion for the half-year period ending September 30, 2017. The group also lifted its interim dividend 8% to $2.05 per share on total earnings per share of $3.70. The board has also approved a $1 billion on-market share buyback depending on market conditions and the bank's other capital management or investment requirements.
