Jennison Associates LLC Increases Stake in Marex Group plc Ordinary Shares $MRX

Jennison Associates LLC lifted its position in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,606,691 shares of the company’s stock after acquiring an additional 131,436 shares during the quarter. Jennison Associates LLC owned 2.20% of Marex Group plc Ordinary Shares worth $71,626,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MRX. Allspring Global Investments Holdings LLC grew its holdings in Marex Group plc Ordinary Shares by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock valued at $39,115,000 after purchasing an additional 93,863 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Marex Group plc Ordinary Shares by 11.2% in the first 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 during the last quarter. Calamos Advisors LLC boosted its position in shares of Marex Group plc Ordinary Shares by 32.3% during the first quarter. Calamos Advisors LLC now owns 110,114 shares of the company’s stock valued at $4,909,000 after buying an additional 26,908 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Marex Group plc Ordinary Shares during the first quarter valued at approximately $4,299,000. Finally, Fifth Third Bancorp boosted its position in shares of Marex Group plc Ordinary Shares by 89.5% during the first quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock valued at $54,000 after buying an additional 571 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MRX. Zacks Research upgraded Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. UBS Group boosted their price objective on Marex Group plc Ordinary Shares from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. TD Cowen upped their price objective on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Piper Sandler increased their target price on Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Weiss Ratings upgraded Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Marex Group plc Ordinary Shares has a consensus rating of “Buy” and an average target price of $74.33.

Marex Group plc Ordinary Shares Price Performance

Shares of MRX stock opened at $60.16 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.07. The company has a market cap of $4.39 billion, a P/E ratio of 13.67 and a beta of -0.10. The stock has a 50-day moving average of $60.05. Marex Group plc Ordinary Shares has a one year low of $27.91 and a one year high of $71.18.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last issued its 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 business had revenue of $692.30 million for the quarter. On average, research analysts expect that Marex Group plc Ordinary Shares will post 5.56 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Monday, May 18th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, May 18th. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is presently 14.55%.

Insider Buying and Selling

In other Marex Group plc Ordinary Shares news, insider Thomas Texier sold 1,572 shares of Marex Group plc Ordinary Shares stock in a transaction on Monday, June 1st. The stock was sold at an average price of $53.35, for a total transaction of $83,866.20. Following the completion of the sale, the insider directly owned 207,019 shares of the company’s stock, valued at $11,044,463.65. The trade was a 0.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.79% of the stock is owned by insiders.

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.