Bank of New York Mellon Corp Makes New $51.25 Million Investment in StoneX Group Inc. $SNEX

Key Points

• Bank of New York Mellon initiated a $51.25 million StoneX Group position, buying 432,524 shares and taking a 0.36% stake. Institutional investors collectively own 75.93% of SNEX.
• StoneX insiders have sold about 1.0 million shares worth $79.45 million over the past 90 days, including CFO William Dunaway’s $6.4 million sale and Mark Maurer’s $3.5 million sale, both under 10b5-1 plans.
• Analysts remain moderately bullish, with a consensus “Buy” rating and a $112 price target, while StoneX recently beat quarterly EPS estimates by reporting $1.00 versus the expected $0.86.

Bank of New York Mellon Corp bought a new position in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 432,524 shares of the company's stock, valued at approximately $51,254,000. Bank of New York Mellon Corp owned 0.36% of StoneX Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in StoneX Group by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,031,545 shares of the company's stock valued at $383,521,000 after buying an additional 11,240 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in StoneX Group by 18.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,851,468 shares of the company's stock valued at $271,261,000 after acquiring an additional 439,771 shares in the last quarter. Dimensional Fund Advisors LP raised its position in StoneX Group by 50.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,107,795 shares of the company's stock valued at $169,976,000 after acquiring an additional 704,493 shares in the last quarter. State Street Corp lifted its stake in StoneX Group by 0.3% in the fourth quarter. State Street Corp now owns 1,829,897 shares of the company's stock valued at $174,078,000 after acquiring an additional 6,220 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in StoneX Group by 24.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,499,292 shares of the company's stock valued at $142,628,000 after acquiring an additional 294,203 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.

Insider Activity at StoneX Group

In related news, CFO William J. Dunaway sold 96,490 shares of StoneX Group 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 completion of the sale, the chief financial officer directly owned 502,203 shares of the company's stock, valued at $33,321,169.05. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Lowry Maurer sold 52,648 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $66.25, for a total value of $3,487,930.00. Following the completion of the transaction, the insider directly owned 236,964 shares in the company, valued at $15,698,865. The trade was a 18.18% 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. Over the last 90 days, insiders have sold 1,002,340 shares of company stock worth $79,453,640. Company insiders own 11.79% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings lowered StoneX Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, July 17th. Zacks Research raised StoneX Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Jefferies Financial Group downgraded shares of StoneX Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $123.00 to $112.00 in a report on Monday, July 20th. Finally, Wall Street Zen lowered shares of StoneX Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $112.00.

StoneX Group Price Performance

Shares of SNEX stock opened at $68.35 on Friday. The stock's fifty day simple moving average is $75.38 and its 200 day simple moving average is $74.19. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.82 and a quick ratio of 1.39. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 16.32 and a beta of 0.66. StoneX Group Inc. has a one year low of $36.45 and a one year high of $94.66.

StoneX Group (NASDAQ:SNEX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping 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 $719.70 million for the quarter, compared to analyst estimates of $1.32 billion. On average, analysts expect that StoneX Group Inc. will post 4.35 earnings per share for the current fiscal year.

About StoneX Group

StoneX Group Inc NASDAQ: SNEX is a global financial services firm offering execution, risk management, advisory and post-trade solutions across commodities, currencies, securities and digital assets. The company serves commercial businesses, institutional clients and financial intermediaries, providing market access and tailored services designed to help clients manage price risk, optimize working capital and execute complex transactions.

StoneX operates through several core segments.

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