** Shares of Magellan Financial Group MFG.AX fall 10.5% to A$9.040

** Stock hits their lowest level since early July 2024

** The asset manager reports HY net profit after tax of A$94 million ($59.58 million), down 10% from last year

** Co also declares an interim dividend of 26.4 Australian cents per share, compared with 29.4 cents last year

** MFG also announces Sophia Rahmani as the CEO and managing director and Dean McGuire as CFO

** Stock has lost 18.8% YTD, including current session's moves

($1 = 1.5778 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))