Jennison Associates LLC raised its holdings in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX – Free Report) by 8.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,606,691 shares of the company’s stock after purchasing an additional 131,436 shares during the period. Jennison Associates LLC’s holdings in Marex Group plc Ordinary Shares were worth $71,626,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. SG Americas Securities LLC lifted its position in shares of Marex Group plc Ordinary Shares by 1,217.4% in the 1st quarter. SG Americas Securities LLC now owns 184,519 shares of the company’s stock worth $8,226,000 after purchasing an additional 170,513 shares during the period. Wasatch Advisors LP increased its holdings in Marex Group plc Ordinary Shares by 452.1% during the first quarter. Wasatch Advisors LP now owns 171,109 shares of the company’s stock valued at $7,628,000 after buying an additional 140,117 shares during the period. Janney Montgomery Scott LLC bought a new position in Marex Group plc Ordinary Shares in the first quarter worth approximately $445,000. Keybank National Association OH raised its stake in Marex Group plc Ordinary Shares by 12.7% in the first quarter. Keybank National Association OH now owns 8,862 shares of the company’s stock worth $395,000 after buying an additional 1,001 shares in the last quarter. Finally, Abel Hall LLC purchased a new stake in Marex Group plc Ordinary Shares during the first quarter worth $214,000.
Insiders Place Their Bets
In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $53.35, for a total transaction of $83,866.20. Following the transaction, the insider owned 207,019 shares in the company, valued at approximately $11,044,463.65. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.79% of the company’s stock.
Marex Group plc Ordinary Shares Stock Performance
Marex Group plc Ordinary Shares (NASDAQ:MRX – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.48 earnings per share (EPS) for the quarter. The firm had revenue of $692.30 million for the quarter. Marex Group plc Ordinary Shares had a net margin of 15.45% and a return on equity of 28.43%. On average, sell-side analysts predict that Marex Group plc Ordinary Shares will post 5.56 earnings per share for the current fiscal year.
Marex Group plc Ordinary Shares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Monday, May 18th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, May 18th. Marex Group plc Ordinary Shares’s payout ratio is currently 14.55%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on MRX. Zacks Research raised Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. UBS Group boosted their price target on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Piper Sandler upped their price objective on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on Marex Group plc Ordinary Shares from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Compass Point set a $80.00 target price on Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $74.33.
View Our Latest Stock Report on Marex Group plc Ordinary Shares
Marex Group plc Ordinary Shares Company Profile
Marex Group PLC is a financial services platform, providing liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets. The Group’s operating segments are: Clearing, Agency and Execution, Market Making, Hedging and Investment Solutions, and Corporate. Maximum revenue is generated from the Agency and Execution segment, which offers liquidity and execution services to clients mainly in the energy and financial securities markets by connecting buyers and sellers in the energy markets, offering liquidity and risk management solutions for financial markets, and providing clearing, custody, capital introduction, portfolio financing, and outsourced trading services.
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