Principal Financial Group Inc. decreased its stake in Marex Group plc Ordinary Shares (NASDAQ:MRX – Free Report) by 42.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,508 shares of the company’s stock after selling 101,924 shares during the period. Principal Financial Group Inc.’s holdings in Marex Group plc Ordinary Shares were worth $6,175,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MRX. SG Americas Securities LLC grew 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 valued at $8,226,000 after buying an additional 170,513 shares during the last quarter. Swedbank AB lifted its position in Marex Group plc Ordinary Shares by 66.1% in the first quarter. Swedbank AB now owns 354,413 shares of the company’s stock valued at $15,800,000 after acquiring an additional 141,000 shares during the last quarter. Wasatch Advisors LP boosted its stake in Marex Group plc Ordinary Shares by 452.1% in the first quarter. Wasatch Advisors LP now owns 171,109 shares of the company’s stock valued at $7,628,000 after acquiring an additional 140,117 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Marex Group plc Ordinary Shares during the first quarter worth about $4,299,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Marex Group plc Ordinary Shares in the 1st quarter valued at about $501,000.
Analysts Set New Price Targets
A number of research firms recently issued reports on MRX. UBS Group raised 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 note on Thursday, April 2nd. Compass Point set a $80.00 price target on shares of Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. Keefe, Bruyette & Woods raised their price objective on shares of Marex Group plc Ordinary Shares from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. TD Cowen lifted their price objective on shares of Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Piper Sandler upped their target price on shares of Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Marex Group plc Ordinary Shares presently has a consensus rating of “Buy” and an average target price of $75.14.
Insider Buying and Selling at Marex Group plc Ordinary Shares
In related news, insider Thomas Texier sold 1,572 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $53.35, for a total value of $83,866.20. Following the sale, the insider owned 207,019 shares in the company, valued at $11,044,463.65. This represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Marex Group plc Ordinary Shares Trading Down 1.5%
MRX stock opened at $64.60 on Tuesday. The stock has a market capitalization of $4.71 billion, a P/E ratio of 14.68 and a beta of -0.10. Marex Group plc Ordinary Shares has a 52 week low of $27.91 and a 52 week high of $71.18. The business’s 50-day moving average is $61.00. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.76.
Marex Group plc Ordinary Shares (NASDAQ:MRX – Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $1.48 earnings per share for the quarter. Marex Group plc Ordinary Shares had a net margin of 15.45% and a return on equity of 28.43%. The company had revenue of $692.30 million for the quarter. On average, equities research analysts expect that Marex Group plc Ordinary Shares will post 5.56 earnings per share for the current year.
Marex Group plc Ordinary Shares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Monday, May 18th were issued a $0.16 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. Marex Group plc Ordinary Shares’s dividend payout ratio is currently 14.55%.
About Marex Group plc Ordinary Shares
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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