Allspring Global Investments Holdings LLC Purchases 728,381 Shares of Marex Group plc Ordinary Shares $MRX

Key Points

• Allspring Global Investments initiated a position in Marex Group, purchasing 728,381 shares in the third quarter, valued at approximately $51.7 million and representing about 1% of the company.
• Marex reported quarterly EPS of $1.67, beating the $1.52 consensus estimate; revenue rose 53.4% year over year to $743.2 million.
• Analysts’ consensus rating is Buy, with an average price target of $83.75. Marex also announced a quarterly dividend of $0.16 per share.

Allspring Global Investments Holdings LLC purchased a new position in Marex Group plc Ordinary Shares (NASDAQ:MRX - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 728,381 shares of the company's stock, valued at approximately $51,686,000. Allspring Global Investments Holdings LLC owned approximately 1.00% of Marex Group plc Ordinary Shares as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Wasatch Advisors LP grew its holdings in shares of Marex Group plc Ordinary Shares by 883.6% in the second quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company's stock valued at $102,583,000 after acquiring an additional 1,511,952 shares in the last quarter. Jennison Associates LLC raised its holdings in Marex Group plc Ordinary Shares by 8.9% during the 1st quarter. Jennison Associates LLC now owns 1,606,691 shares of the company's stock valued at $71,626,000 after acquiring an additional 131,436 shares during the period. Bank of New York Mellon Corp lifted its holdings in Marex Group plc Ordinary Shares by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company's stock worth $21,600,000 after purchasing an additional 48,752 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Marex Group plc Ordinary Shares by 34.3% in the first quarter. Bank of America Corp DE now owns 385,026 shares of the company's stock valued at $17,164,000 after acquiring an additional 98,334 shares during the period. Finally, Sei Investments Co. grew its position in shares of Marex Group plc Ordinary Shares by 0.8% during the 1st quarter. Sei Investments Co. now owns 354,325 shares of the company's stock valued at $15,796,000 after purchasing an additional 2,742 shares in the last quarter.

Marex Group plc Ordinary Shares Price Performance

Shares of Marex Group plc Ordinary Shares stock opened at $69.26 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.07 and a current ratio of 1.08. The stock's fifty day moving average is $71.13 and its 200 day moving average is $64.10. The stock has a market cap of $5.05 billion, a P/E ratio of 11.47 and a beta of 0.07. Marex Group plc Ordinary Shares has a one year low of $31.19 and a one year high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.15. Marex Group plc Ordinary Shares had a return on equity of 27.93% and a net margin of 17.88%. The firm had revenue of $743.20 million for the quarter. During the same period in the previous year, the firm earned $0.96 earnings per share. The firm's quarterly revenue was up 53.4% on a year-over-year basis. Sell-side analysts anticipate that Marex Group plc Ordinary Shares will post 6.17 earnings per share for the current year.

Marex Group plc Ordinary Shares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Monday, November 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 16th. Marex Group plc Ordinary Shares's dividend payout ratio is currently 10.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group increased their target price on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Weiss Ratings cut Marex Group plc Ordinary Shares from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, October 26th. UBS Group raised their price objective on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. The Goldman Sachs Group restated a "buy" rating and set a $80.00 target price on shares of Marex Group plc Ordinary Shares in a report on Friday, August 14th. Finally, Piper Sandler raised their price objective on Marex Group plc Ordinary Shares from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $83.75.

Insider Transactions at Marex Group plc Ordinary Shares

In other Marex Group plc Ordinary Shares news, insider Paolo Tonucci sold 16,666 shares of the firm's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $72.03, for a total transaction of $1,200,451.98. Following the sale, the insider owned 1,252,905 shares in the company, valued at approximately $90,246,747.15. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Marex Group plc Ordinary Shares Profile

Marex Group plc is a global financial services company that provides market access, liquidity and related services to businesses and institutions. Its clients include producers and consumers of commodities, financial institutions and other market participants. The company's services include clearing and execution for exchange-traded and over-the-counter markets, agency execution, and market making. Marex also offers hedging solutions and investment products, with activity across markets such as energy, metals, agriculture, foreign exchange and fixed income.

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