433,506 Shares in StoneX Group Inc. $SNEX Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 433,506 StoneX shares valued at approximately $51.4 million, joining other institutions that increased or initiated positions. Institutional investors and hedge funds collectively own 75.93% of SNEX.
• StoneX reported quarterly EPS of $1.00, beating estimates of $0.86, on revenue of $39.71 billion. Analysts project full-year EPS of $4.35.
• Insiders sold 752,988 shares worth approximately $54.1 million in the latest quarter, while analyst sentiment remains positive overall with a consensus “Buy” rating and a $112 price target.

Bank of America Corp DE bought a new position in StoneX Group Inc. (NASDAQ:SNEX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 433,506 shares of the company's stock, valued at approximately $51,370,000. Bank of America Corp DE owned 0.36% of StoneX Group at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNEX. BlackRock Inc. acquired a new stake in shares of StoneX Group during the second quarter worth $1,343,877,000. Dimensional Fund Advisors LP boosted its position in shares of StoneX Group by 50.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company's stock worth $169,976,000 after buying an additional 704,493 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of StoneX Group by 21.1% during the first quarter. Van Berkom & Associates Inc. now owns 1,384,258 shares of the company's stock valued at $111,640,000 after buying an additional 240,749 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of StoneX Group by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 1,212,568 shares of the company's stock valued at $115,369,000 after buying an additional 74,515 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new position in StoneX Group during the second quarter valued at $139,730,000. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at StoneX Group

In related news, insider Mark Maurer sold 50,528 shares of StoneX Group stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $67.02, for a total value of $3,386,386.56. Following the transaction, the insider owned 203,244 shares in the company, valued at $13,621,412.88. This trade represents a 19.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO William J. Dunaway sold 96,490 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $66.35, for a total transaction of $6,402,111.50. Following the transaction, the chief financial officer directly owned 502,203 shares of the company's stock, valued at approximately $33,321,169.05. This represents a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 752,988 shares of company stock worth $54,050,348 in the last quarter. 11.79% of the stock is owned by corporate insiders.

StoneX Group Stock Performance

SNEX opened at $67.00 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.39 and a current ratio of 1.82. The company has a market cap of $8.08 billion, a PE ratio of 15.99 and a beta of 0.63. The stock has a 50-day moving average of $70.26 and a 200-day moving average of $72.35. StoneX Group Inc. has a 52-week low of $36.45 and a 52-week high of $94.66.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.14. StoneX Group had a return on equity of 20.18% and a net margin of 0.33%.The business had revenue of $39.71 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities research analysts forecast that StoneX Group Inc. will post 4.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research upgraded shares of StoneX Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Weiss Ratings upgraded StoneX Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 14th. Jefferies Financial Group cut StoneX Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $123.00 to $112.00 in a research report on Monday, July 20th. Finally, Wall Street Zen downgraded StoneX Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $112.00.

StoneX Group Profile

StoneX Group Inc NASDAQ: SNEX is a global financial services company that provides execution, clearing, market-making, advisory and risk-management services across a range of markets. Its clients include commercial and industrial businesses, institutional investors, broker-dealers, asset managers, professional traders and retail investors.

The company's offerings include futures and options trading, securities execution and clearing, foreign exchange, global payments, commodities trading and hedging, and access to physical commodities markets.

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