Swedbank AB Grows Position in Marex Group plc Ordinary Shares $MRX

Swedbank AB increased its position in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 66.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,413 shares of the company’s stock after buying an additional 141,000 shares during the quarter. Swedbank AB’s holdings in Marex Group plc Ordinary Shares were worth $15,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Marex Group plc Ordinary Shares by 1,217.4% during 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 period. Wasatch Advisors LP increased its position in shares of 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 during the period. Janney Montgomery Scott LLC purchased a new position in shares of Marex Group plc Ordinary Shares in the first quarter valued at about $445,000. Keybank National Association OH raised its stake in shares of Marex Group plc Ordinary Shares by 12.7% during the first quarter. Keybank National Association OH now owns 8,862 shares of the company’s stock valued at $395,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Abel Hall LLC bought a new position in shares of Marex Group plc Ordinary Shares during the first quarter valued at about $214,000.

Marex Group plc Ordinary Shares Trading Up 4.6%

Shares of MRX opened at $70.29 on Friday. Marex Group plc Ordinary Shares has a 1-year low of $27.91 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.07. The company’s 50-day moving average is $58.72. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 15.97 and a beta of -0.10.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.48 earnings per share (EPS) 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 during the quarter. On average, research analysts forecast that Marex Group plc Ordinary Shares will post 5.35 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Monday, May 18th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, May 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.9%. Marex Group plc Ordinary Shares’s dividend payout ratio is 14.55%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen raised their target price on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Keefe, Bruyette & Woods initiated coverage on Marex Group plc Ordinary Shares in a report on Wednesday, April 8th. They issued an “outperform” rating and a $60.00 price objective for the company. UBS Group lifted their price objective 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. Zacks Research raised Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $70.20.

Insider Activity

In other news, insider Thomas Texier sold 1,572 shares of the 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 completion of the transaction, the insider owned 207,019 shares of the company’s stock, valued at approximately $11,044,463.65. This represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.79% of the company’s stock.

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.