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

Key Points

• Handelsbanken Fonder AB initiated a position in Marex Group, purchasing 17,200 shares valued at approximately $1.05 million. Several other institutional investors also increased their holdings.
• Analysts remain broadly bullish, with one Strong Buy, seven Buy, and one Hold rating. The consensus price target is $82, while UBS and Keefe, Bruyette & Woods recently raised their targets to $90.
• Marex reported quarterly EPS of $1.64, beating estimates of $1.36, while revenue rose 39.1% year over year to $695.8 million. The company also announced a $0.16 quarterly dividend, equivalent to a 0.9% yield.

Handelsbanken Fonder AB purchased a new stake in Marex Group plc Ordinary Shares (NASDAQ:MRX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,200 shares of the company's stock, valued at approximately $1,048,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MRX. Jennison Associates LLC grew its stake in Marex Group plc Ordinary Shares by 8.9% in 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 last quarter. Allspring Global Investments Holdings LLC raised its position in Marex Group plc Ordinary Shares by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company's stock worth $39,115,000 after acquiring an additional 93,863 shares during the last quarter. Bank of New York Mellon Corp raised its position in Marex Group plc Ordinary Shares by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company's stock worth $21,600,000 after acquiring an additional 48,752 shares during the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 98,334 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Marex Group plc Ordinary Shares by 66.1% in the first quarter. Swedbank AB now owns 354,413 shares of the company's stock valued at $15,800,000 after purchasing an additional 141,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. UBS Group upped their target price on Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. The Goldman Sachs Group reiterated 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. TD Cowen raised their price target 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. Finally, Piper Sandler boosted their price target on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $82.00.

Marex Group plc Ordinary Shares Price Performance

Marex Group plc Ordinary Shares stock opened at $70.19 on Thursday. Marex Group plc Ordinary Shares has a 12-month low of $27.91 and a 12-month high of $75.40. The firm has a market cap of $5.12 billion, a PE ratio of 12.60 and a beta of -0.10. The business's 50-day moving average price is $64.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.07.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $695.80 million during the quarter. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The business's quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, analysts forecast that Marex Group plc Ordinary Shares will post 5.84 EPS 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, September 9th. Shareholders of record on Monday, August 24th will be paid 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, August 24th. Marex Group plc Ordinary Shares's payout ratio is presently 11.49%.

Insiders Place Their Bets

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of the business's 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.

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