Northern Trust Corp Grows Stock Holdings in StoneX Group Inc. $SNEX

Key Points

• Northern Trust Corp increased its stake in StoneX Group Inc. by 52.3% in the first quarter, owning a total of 510,906 shares worth approximately $39 million.
• StoneX reported a quarterly earnings miss with earnings per share of $1.22, below the consensus estimate of $1.39, while revenue was significantly higher at $1.02 billion.
• The stock has a market capitalization of $5.27 billion and has seen a twelve-month price fluctuation with a low of $50.31 and a high of $102.11.

Northern Trust Corp increased its holdings in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 52.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 510,906 shares of the company's stock after purchasing an additional 175,450 shares during the quarter. Northern Trust Corp owned 1.06% of StoneX Group worth $39,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC raised its holdings in shares of StoneX Group by 50.0% during the first quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of StoneX Group by 2.1% during the fourth quarter. Focus Partners Wealth now owns 8,109 shares of the company's stock valued at $794,000 after acquiring an additional 164 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of StoneX Group by 4.5% during the first quarter. Hohimer Wealth Management LLC now owns 7,112 shares of the company's stock valued at $543,000 after acquiring an additional 306 shares during the last quarter. CWM LLC raised its holdings in shares of StoneX Group by 78.4% during the first quarter. CWM LLC now owns 808 shares of the company's stock valued at $62,000 after acquiring an additional 355 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of StoneX Group by 92.7% during the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock valued at $57,000 after acquiring an additional 357 shares during the last quarter. Institutional investors and hedge funds own 75.93% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised StoneX Group to a "strong-buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy".

Insiders Place Their Bets

In related news, CEO Philip Andrew Smith sold 7,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $83.68, for a total value of $627,600.00. Following the completion of the transaction, the chief executive officer directly owned 327,754 shares in the company, valued at approximately $27,426,454.72. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Abigail H. Perkins sold 16,098 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $85.04, for a total value of $1,368,973.92. Following the completion of the transaction, the insider owned 31,076 shares of the company's stock, valued at $2,642,703.04. The trade was a 34.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,305 shares of company stock valued at $3,859,233. 11.70% of the stock is currently owned by insiders.

StoneX Group Price Performance

Shares of NASDAQ:SNEX traded up $1.87 during midday trading on Wednesday, hitting $104.16. The company had a trading volume of 608,222 shares, compared to its average volume of 617,904. StoneX Group Inc. has a twelve month low of $50.31 and a twelve month high of $104.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.08 and a quick ratio of 1.48. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 17.74 and a beta of 0.56. The business's 50-day simple moving average is $94.78 and its 200-day simple moving average is $86.47.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.17). The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%. On average, research analysts predict that StoneX Group Inc. will post 8.7 earnings per share for the current year.

About StoneX Group

StoneX Group Inc operates as a global financial services network that connects companies, organizations, traders, and investors to market ecosystem worldwide. The company operates through Commercial, Institutional, Retail, and Global Payments segments. The Commercial segment provides risk management and hedging, exchange-traded and OTC products execution and clearing, voice brokerage, market intelligence, physical trading, and commodity financing and logistics services.