Thomas Texier Sells 1,572 Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock

Key Points

• Insider sale: Marex Group insider Thomas Texier sold 1,572 shares on June 1 at an average price of $53.35, totaling about $83,866. After the sale, he still owned 207,019 shares.
• Stock and financial snapshot: MRX rose $2.90 to $53.90, with trading volume above average. The company reported $1.48 EPS and $692.3 million in quarterly revenue in its latest earnings release.
• Analyst and dividend outlook: Analysts currently rate the stock a Moderate Buy with an average target price of $61.75. Marex also declared a quarterly dividend of $0.16 per share, implying a 1.2% annualized yield.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) insider Thomas Texier sold 1,572 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $53.35, for a total transaction of $83,866.20. Following the transaction, the insider directly owned 207,019 shares in the company, valued at $11,044,463.65. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marex Group plc Ordinary Shares Price Performance

Shares of MRX stock traded up $2.90 on Wednesday, reaching $53.90. 1,044,123 shares of the company were exchanged, compared to its average volume of 862,052. The stock has a market capitalization of $3.93 billion, a PE ratio of 12.25 and a beta of -0.01. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.07. Marex Group plc Ordinary Shares has a one year low of $27.91 and a one year high of $58.62.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.48 earnings per share (EPS) for the quarter. The company had revenue of $692.30 million for the quarter. Marex Group plc Ordinary Shares had a net margin of 15.45% and a return on equity of 28.43%. Equities research analysts expect that Marex Group plc Ordinary Shares will post 5.32 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Monday, May 18th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, May 18th. Marex Group plc Ordinary Shares's dividend payout ratio is 14.55%.

Wall Street Analysts Forecast Growth

MRX has been the topic 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 lowered shares of Marex Group plc Ordinary Shares from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. UBS Group upped their target price on shares of Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods assumed coverage on shares of Marex Group plc Ordinary Shares in a report on Wednesday, April 8th. They issued an "outperform" rating and a $60.00 target price on the stock. Finally, Barclays upped their target price on shares of Marex Group plc Ordinary Shares from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Marex Group plc Ordinary Shares currently has a consensus rating of "Moderate Buy" and an average target price of $61.75.

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in shares of 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 worth $71,626,000 after acquiring an additional 131,436 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Marex Group plc Ordinary Shares by 11.5% in the 1st 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 increased its stake in Marex Group plc Ordinary Shares by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company's stock valued at $21,600,000 after buying an additional 48,752 shares during the last quarter. Bank of America Corp DE increased its stake in Marex Group plc Ordinary Shares by 34.3% in the 1st quarter. Bank of America Corp DE now owns 385,026 shares of the company's stock valued at $17,164,000 after buying an additional 98,334 shares during the last quarter. Finally, Swedbank AB increased its stake in Marex Group plc Ordinary Shares by 66.1% in the 1st quarter. Swedbank AB now owns 354,413 shares of the company's stock valued at $15,800,000 after buying an additional 141,000 shares during the last quarter.

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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