Old North State Trust LLC Invests $2.25 Million in Marex Group plc Ordinary Shares $MRX

Old North State Trust LLC purchased a new position in Marex Group plc Ordinary Shares (NASDAQ:MRX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,552 shares of the company’s stock, valued at approximately $2,250,000. Marex Group plc Ordinary Shares accounts for 1.2% of Old North State Trust LLC’s portfolio, making the stock its 19th biggest position.

A number of other hedge funds have also recently modified their holdings of the business. Vestor Capital LLC bought a new stake in Marex Group plc Ordinary Shares during the first quarter valued at about $45,000. Fifth Third Bancorp boosted its holdings 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 purchasing an additional 571 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Marex Group plc Ordinary Shares during the 2nd quarter worth approximately $191,000. Abel Hall LLC bought a new stake in shares of Marex Group plc Ordinary Shares during the first quarter valued at approximately $214,000. Finally, Pale Fire Capital SE purchased a new position in shares of Marex Group plc Ordinary Shares during the first quarter valued at $239,000.

Marex Group plc Ordinary Shares Price Performance

Shares of Marex Group plc Ordinary Shares stock opened at $71.38 on Friday. 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 has a 1 year low of $27.91 and a 1 year high of $75.40. The stock’s 50 day moving average is $65.86. The firm has a market cap of $5.21 billion, a P/E ratio of 12.82 and a beta of -0.10.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. The company 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 company’s revenue was up 39.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. As a group, research analysts expect that Marex Group plc Ordinary Shares will post 5.84 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 24th. Marex Group plc Ordinary Shares’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MRX. Weiss Ratings reiterated a “hold (c)” rating on shares of Marex Group plc Ordinary Shares in a research note on Monday. Compass Point set a $80.00 price objective on Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 price target on shares of Marex Group plc Ordinary Shares in a research report on Friday, August 14th. Piper Sandler raised their price target on shares of 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. Finally, Jefferies Financial Group upped their price target on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Marex Group plc Ordinary Shares has an average rating of “Buy” and an average price target of $82.00.

Insiders Place Their Bets

In other news, insider Thomas Texier sold 1,572 shares of the company’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 sale, the insider owned 207,019 shares in the company, valued at $11,044,463.65. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.79% of the stock is owned by insiders.

Marex Group plc Ordinary Shares 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.