Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Marex Group plc Ordinary Shares $MRX

Teachers Retirement System of The State of Kentucky lessened its stake in Marex Group plc Ordinary Shares (NASDAQ:MRX) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,089 shares of the company’s stock after selling 8,408 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Marex Group plc Ordinary Shares were worth $2,857,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Marex Group plc Ordinary Shares by 89.5% in the 1st quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock worth $54,000 after buying an additional 571 shares during the period. Abel Hall LLC acquired a new position in Marex Group plc Ordinary Shares in the first quarter valued at $214,000. Keybank National Association OH grew its position in Marex Group plc Ordinary Shares by 12.7% during the first quarter. Keybank National Association OH now owns 8,862 shares of the company’s stock valued at $395,000 after acquiring an additional 1,001 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Marex Group plc Ordinary Shares during the first quarter valued at about $445,000. Finally, Hsbc Holdings PLC purchased a new stake in Marex Group plc Ordinary Shares during the first quarter valued at about $501,000.

Analyst Upgrades and Downgrades

MRX has been the topic of a number of research reports. Barclays raised their price objective on Marex Group plc Ordinary Shares from $60.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. TD Cowen boosted their target price on Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, June 8th. UBS Group increased 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 research report on Thursday, April 2nd. Weiss Ratings upgraded shares of Marex Group plc Ordinary Shares from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Marex Group plc Ordinary Shares from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $74.20.

Marex Group plc Ordinary Shares Price Performance

Shares of MRX opened at $65.68 on Wednesday. The stock’s 50-day moving average is $59.44. The firm has a market capitalization of $4.79 billion, a PE ratio of 14.93 and a beta of -0.10. 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 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) last posted its earnings results on Tuesday, March 31st. The company reported $1.48 earnings per share (EPS) for the quarter. The business had revenue of $692.30 million during the quarter. Marex Group plc Ordinary Shares had a return on equity of 28.43% and a net margin of 15.45%. On average, research analysts anticipate that Marex Group plc Ordinary Shares will post 5.35 earnings per share for the current 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 given a $0.16 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.64 annualized dividend and a yield of 1.0%. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is 14.55%.

Insider Transactions at Marex Group plc Ordinary Shares

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

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.