California State Teachers Retirement System Acquires 9,662,341 Shares of StoneX Group Inc. $SNEX

Key Points

• California State Teachers Retirement System increased its StoneX Group stake by 9.66 million shares, raising its ownership to 8.07% valued at approximately $1.15 billion. Institutional investors collectively own 75.93% of the company.
• StoneX insiders sold 774,469 shares worth about $59.6 million over the past 90 days, including sales by the CEO and another insider under pre-arranged Rule 10b5-1 plans.
• StoneX reported quarterly EPS of $1.00, beating estimates of $0.86, while analysts maintain a “Moderate Buy” consensus and an average price target of $112 versus the stock’s recent price of $70.37.

California State Teachers Retirement System boosted its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 12,481.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,739,752 shares of the company's stock after purchasing an additional 9,662,341 shares during the quarter. California State Teachers Retirement System owned 8.07% of StoneX Group worth $1,154,161,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Wedmont Private Capital bought a new position in shares of StoneX Group during the second quarter worth approximately $208,000. Kraematon Investment Advisors Inc. acquired a new stake in StoneX Group during the second quarter worth approximately $220,000. HB Wealth Management LLC acquired a new stake in StoneX Group during the second quarter worth approximately $281,000. SMART Wealth LLC bought a new position in StoneX Group during the 2nd quarter worth $272,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in StoneX Group during the 2nd quarter worth $147,000. Institutional investors own 75.93% of the company's stock.

Insider Buying and Selling at StoneX Group

In related news, insider Mark Maurer sold 52,648 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $66.25, for a total transaction of $3,487,930.00. Following the sale, the insider owned 236,964 shares of the company's stock, valued at $15,698,865. This trade represents a 18.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Smith sold 77,310 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $79.15, for a total value of $6,118,828.80. Following the sale, the chief executive officer owned 738,216 shares in the company, valued at $58,427,335.68. This represents a 9.48% 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 774,469 shares of company stock worth $59,576,697 over the last 90 days. 11.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNEX. Zacks Research upgraded StoneX Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Weiss Ratings cut shares of StoneX Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 28th. Wall Street Zen downgraded shares of StoneX Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group lowered shares of StoneX Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $123.00 to $112.00 in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, StoneX Group currently has an average rating of "Moderate Buy" and a consensus price target of $112.00.

StoneX Group Stock Performance

StoneX Group stock opened at $70.37 on Friday. StoneX Group Inc. has a 12-month low of $36.45 and a 12-month high of $94.66. The company has a quick ratio of 1.39, a current ratio of 1.82 and a debt-to-equity ratio of 1.45. The business's 50-day moving average price is $71.57 and its two-hundred day moving average price is $73.08. The stock has a market cap of $8.49 billion, a PE ratio of 16.80 and a beta of 0.63.

StoneX Group (NASDAQ:SNEX - Get Free Report) last posted its 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 net margin of 0.33% and a return on equity of 20.18%. The firm had revenue of $39.71 billion during the quarter, compared to analysts' expectations of $1.32 billion. As a group, 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 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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