Allspring Global Investments Holdings LLC Increases Stock Holdings in Marex Group plc Ordinary Shares $MRX

Allspring Global Investments Holdings LLC grew its stake in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 11.5% during the first quarter, HoldingsChannel reports. The firm owned 908,596 shares of the company’s stock after purchasing an additional 93,863 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marex Group plc Ordinary Shares were worth $39,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MRX. Fifth Third Bancorp increased its stake in shares of Marex Group plc Ordinary Shares by 89.5% during the first quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock worth $54,000 after acquiring an additional 571 shares during the period. Keybank National Association OH raised its stake in shares of Marex Group plc Ordinary Shares by 12.7% during the 1st 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. Abel Hall LLC purchased a new position in shares of Marex Group plc Ordinary Shares during the 1st quarter worth approximately $214,000. Janney Montgomery Scott LLC acquired a new stake in shares of Marex Group plc Ordinary Shares in the 1st quarter valued at approximately $445,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Marex Group plc Ordinary Shares in the 1st quarter valued at approximately $501,000.

Insider Activity at Marex Group plc Ordinary Shares

In other news, insider Thomas Texier sold 1,572 shares of Marex Group plc Ordinary Shares stock in a transaction 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 sale, the insider owned 207,019 shares of the company’s stock, valued at $11,044,463.65. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.79% of the stock is currently owned by corporate insiders.

Marex Group plc Ordinary Shares Stock Performance

Shares of MRX opened at $60.16 on Monday. Marex Group plc Ordinary Shares has a 1 year low of $27.91 and a 1 year high of $71.18. The firm’s 50 day moving average price is $60.05. The stock has a market capitalization of $4.39 billion, a P/E ratio of 13.67 and a beta of -0.10. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.76.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its earnings results on Tuesday, March 31st. The company reported $1.48 EPS for the quarter. The firm had revenue of $692.30 million during the quarter. Marex Group plc Ordinary Shares had a net margin of 15.45% and a return on equity of 28.43%. Equities analysts expect that Marex Group plc Ordinary Shares will post 5.56 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.1%. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is 14.55%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods boosted 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 report on Friday, July 10th. UBS Group lifted their price target on shares of Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Barclays lifted their price target on shares of Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler increased their price objective on shares of Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $74.33.

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.