Bank of New York Mellon Corp Grows Stock Position in Marex Group plc Ordinary Shares $MRX

Bank of New York Mellon Corp grew its position in shares of Marex Group plc Ordinary Shares (NASDAQ:MRX - Free Report) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 484,524 shares of the company's stock after buying an additional 48,752 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of Marex Group plc Ordinary Shares worth $21,600,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp grew its stake in shares of Marex Group plc Ordinary Shares by 89.5% during the 1st quarter. Fifth Third Bancorp now owns 1,209 shares of the company's stock worth $54,000 after purchasing an additional 571 shares during the period. Abel Hall LLC purchased a new position in shares of Marex Group plc Ordinary Shares during the 1st quarter worth $214,000. Keybank National Association OH boosted its stake in Marex Group plc Ordinary Shares by 12.7% in 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 during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Marex Group plc Ordinary Shares in the first quarter worth approximately $445,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Marex Group plc Ordinary Shares during the 1st quarter worth $501,000.

Marex Group plc Ordinary Shares Stock Down 0.7%

Shares of NASDAQ:MRX opened at $64.16 on Wednesday. The company has a market cap of $4.68 billion, a P/E ratio of 14.58 and a beta of -0.10. Marex Group plc Ordinary Shares has a twelve month low of $27.91 and a twelve month high of $71.18. The firm's 50 day simple moving average is $61.20. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.07 and a current ratio of 1.08.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last posted its quarterly earnings data 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 for the quarter. Analysts anticipate that Marex Group plc Ordinary Shares will post 5.56 EPS for the current 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Marex Group plc Ordinary Shares's dividend payout ratio (DPR) is presently 14.55%.

Analysts Set New Price Targets

MRX has been the subject of a number of research analyst reports. Weiss Ratings raised 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. Zacks Research raised shares of Marex Group plc Ordinary Shares from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 10th. UBS Group boosted their target price on shares of Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Barclays lifted their price objective 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. Finally, TD Cowen upped 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 report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Marex Group plc Ordinary Shares has a consensus rating of "Buy" and an average price target of $75.14.

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 directly 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 filing with the SEC, which is accessible through the SEC website.

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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