Handelsbanken Fonder AB Purchases Shares of 17,200 Marex Group plc Ordinary Shares $MRX

Handelsbanken Fonder AB acquired a new stake in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 17,200 shares of the company’s stock, valued at approximately $1,048,000.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Marex Group plc Ordinary Shares by 1,217.4% in the first quarter. SG Americas Securities LLC now owns 184,519 shares of the company’s stock worth $8,226,000 after acquiring an additional 170,513 shares during the last quarter. Walleye Capital LLC increased its position in Marex Group plc Ordinary Shares by 1,369.6% during the first quarter. Walleye Capital LLC now owns 159,830 shares of the company’s stock worth $7,125,000 after purchasing an additional 148,954 shares during the last quarter. Swedbank AB increased its position in Marex Group plc Ordinary Shares by 66.1% during the first quarter. Swedbank AB now owns 354,413 shares of the company’s stock worth $15,800,000 after purchasing an additional 141,000 shares during the last quarter. Wasatch Advisors LP raised its stake 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 worth $7,628,000 after purchasing an additional 140,117 shares during the period. Finally, Jennison Associates LLC raised its stake in Marex Group plc Ordinary Shares by 8.9% during the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock worth $71,626,000 after purchasing an additional 131,436 shares during the period.

Analyst Ratings Changes

A number of equities analysts have weighed in on MRX shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 price target on shares of Marex Group plc Ordinary Shares in a report on Friday, August 14th. Compass Point set a $80.00 target price on Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. Weiss Ratings raised Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. TD Cowen lifted their target price on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Piper Sandler boosted their price target on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $82.00.

Insider Buying and Selling at Marex Group plc Ordinary Shares

In related news, insider Thomas Texier sold 1,572 shares of Marex Group plc Ordinary Shares stock in a transaction 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. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.79% of the company’s stock.

Marex Group plc Ordinary Shares Stock Performance

MRX opened at $70.19 on Thursday. Marex Group plc Ordinary Shares has a 1 year low of $27.91 and a 1 year high of $75.40. The business’s 50 day simple moving average is $64.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.07 and a current ratio of 1.09. The firm has a market cap of $5.12 billion, a P/E ratio of 12.60 and a beta of -0.10.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The firm had revenue of $695.80 million for the quarter. During the same period last year, the firm earned $0.98 earnings per share. The company’s quarterly revenue was up 39.1% on a year-over-year basis. On average, sell-side analysts predict that Marex Group plc Ordinary Shares will post 5.84 earnings per share for the current year.

Marex Group plc Ordinary Shares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 24th. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is currently 11.49%.

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.