Bessemer Group Inc. Raises Stock Position in StoneX Group Inc. $SNEX

Key Points

• Bessemer Group Inc. dramatically increased its StoneX Group stake by 1,562.1% in the fourth quarter, ending with 164,249 shares worth about $15.6 million.
• StoneX reported better-than-expected quarterly earnings of $2.07 per share versus the $1.60 estimate, though revenue of $826.4 million came in below analyst expectations.
• Wall Street sentiment has turned more positive, with several analysts upgrading SNEX and the stock now carrying a consensus Buy rating and an average target price of $122.

Bessemer Group Inc. lifted its stake in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 1,562.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 164,249 shares of the company's stock after acquiring an additional 154,367 shares during the quarter. Bessemer Group Inc. owned approximately 0.31% of StoneX Group worth $15,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SNEX. Royal Bank of Canada increased its position in shares of StoneX Group by 129.0% during the first quarter. Royal Bank of Canada now owns 77,545 shares of the company's stock worth $5,923,000 after acquiring an additional 43,678 shares during the period. NewEdge Advisors LLC purchased a new position in shares of StoneX Group during the first quarter worth approximately $449,000. Goldman Sachs Group Inc. increased its position in shares of StoneX Group by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 225,711 shares of the company's stock worth $17,240,000 after acquiring an additional 13,815 shares during the period. United Services Automobile Association purchased a new position in shares of StoneX Group during the first quarter worth approximately $210,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of StoneX Group by 55.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 107,125 shares of the company's stock worth $8,182,000 after acquiring an additional 38,073 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other StoneX Group news, Director Eric Parthemore sold 2,500 shares of StoneX Group stock in a transaction on Monday, May 11th. The shares were sold at an average price of $123.30, for a total value of $308,250.00. Following the transaction, the director directly owned 43,874 shares of the company's stock, valued at approximately $5,409,664.20. The trade was a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Moore Fowler sold 1,050 shares of StoneX Group stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $106.25, for a total transaction of $111,562.50. Following the completion of the transaction, the director directly owned 171,246 shares in the company, valued at $18,194,887.50. This represents a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 39,550 shares of company stock valued at $3,875,393. 11.79% of the stock is currently owned by company insiders.

StoneX Group Price Performance

NASDAQ SNEX opened at $110.21 on Friday. The firm's fifty day simple moving average is $100.35 and its two-hundred day simple moving average is $102.27. The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 1.27. StoneX Group Inc. has a 12-month low of $53.52 and a 12-month high of $125.42. The firm has a market capitalization of $8.73 billion, a P/E ratio of 19.69 and a beta of 0.64.

StoneX Group (NASDAQ:SNEX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.47. StoneX Group had a net margin of 0.30% and a return on equity of 19.31%. The business had revenue of $826.40 million for the quarter, compared to analyst estimates of $1.37 billion. Analysts forecast that StoneX Group Inc. will post 6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SNEX shares. Zacks Research raised shares of StoneX Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Wall Street Zen raised shares of StoneX Group from a "hold" rating to a "buy" rating in a research report on Sunday, April 5th. William Blair reaffirmed an "outperform" rating on shares of StoneX Group in a research report on Monday, March 9th. Jefferies Financial Group raised their target price on shares of StoneX Group from $99.00 to $122.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Finally, Weiss Ratings raised shares of StoneX Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $122.00.

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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