Marex Group plc Ordinary Shares $MRX Stake Lowered by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 34.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 729,000 shares of the company’s stock after selling 385,349 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 1.00% of Marex Group plc Ordinary Shares worth $32,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MRX. Jennison Associates LLC grew its stake in Marex Group plc Ordinary Shares by 8.9% in the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock valued at $71,626,000 after purchasing an additional 131,436 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in 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 purchasing an additional 93,863 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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. Swedbank AB raised its stake in shares of Marex Group plc Ordinary Shares by 66.1% during the 1st quarter. Swedbank AB now owns 354,413 shares of the company’s stock worth $15,800,000 after purchasing an additional 141,000 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings 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 buying an additional 2,742 shares during the last quarter.

Analysts Set New Price Targets

MRX has been the subject of several recent research reports. Weiss Ratings raised Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. UBS Group lifted 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. Piper Sandler lifted their target price 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, July 15th. TD Cowen boosted their target price on shares of 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, Keefe, Bruyette & Woods increased their price target on shares of Marex Group plc Ordinary Shares from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $75.14.

Insider Buying and Selling

In related news, insider Thomas Texier sold 1,572 shares of Marex Group plc Ordinary Shares stock in a transaction on Monday, June 1st. The shares were sold at an average price of $53.35, for a total value of $83,866.20. Following the transaction, the insider owned 207,019 shares in the company, valued at $11,044,463.65. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Marex Group plc Ordinary Shares Price Performance

Shares of Marex Group plc Ordinary Shares stock opened at $65.56 on Monday. Marex Group plc Ordinary Shares has a 12-month low of $27.91 and a 12-month high of $71.18. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.76. The stock’s 50 day moving average is $60.84. The company has a market capitalization of $4.78 billion, a PE ratio of 14.90 and a beta of -0.10.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.48 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. Sell-side analysts anticipate that Marex Group plc Ordinary Shares will post 5.56 earnings per share for the current year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Monday, May 18th were paid a $0.16 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is presently 14.55%.

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.