Raymond James Financial Inc. Boosts Stake in StoneX Group Inc. $SNEX

Key Points

• Raymond James Financial Inc. has increased its holdings in StoneX Group Inc. by 67.7%, owning approximately 0.37% of the company, valued at $13.4 million.
• Zacks Research has upgraded StoneX Group to a "strong-buy" rating, contributing to the stock's current average rating of "Strong Buy".
• StoneX Group recently reported earnings of $1.22 EPS, which missed analysts' expectations, despite a revenue of $1.02 billion for the quarter.

Raymond James Financial Inc. lifted its stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,944 shares of the company's stock after buying an additional 71,054 shares during the period. Raymond James Financial Inc. owned approximately 0.37% of StoneX Group worth $13,439,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SNEX. Ridgewood Investments LLC increased its holdings in shares of StoneX Group by 50.0% in the first quarter. Ridgewood Investments LLC now owns 450 shares of the company's stock worth $34,000 after buying an additional 150 shares during the period. Simplex Trading LLC purchased a new position in shares of StoneX Group in the first quarter worth about $47,000. GAMMA Investing LLC increased its holdings in shares of StoneX Group by 92.7% in the first quarter. GAMMA Investing LLC now owns 742 shares of the company's stock worth $57,000 after buying an additional 357 shares during the period. IFP Advisors Inc increased its holdings in shares of StoneX Group by 74,100.0% in the first quarter. IFP Advisors Inc now owns 742 shares of the company's stock worth $57,000 after buying an additional 741 shares during the period. Finally, CWM LLC increased its holdings in shares of StoneX Group by 78.4% in the first quarter. CWM LLC now owns 808 shares of the company's stock worth $62,000 after buying an additional 355 shares during the period. Hedge funds and other institutional investors own 75.93% of the company's stock.

Insiders Place Their Bets

In related news, insider Abigail H. Perkins sold 16,098 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $85.04, for a total transaction of $1,368,973.92. Following the transaction, the insider owned 31,076 shares in the company, valued at $2,642,703.04. The trade was a 34.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip Andrew Smith sold 7,500 shares of the company's 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 transaction, the chief executive officer owned 327,754 shares in the company, valued at $27,426,454.72. This trade represents a 2.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,305 shares of company stock worth $3,859,233 in the last quarter. 11.70% of the stock is currently owned by company insiders.

StoneX Group Trading Up 2.2%

NASDAQ:SNEX traded up $2.29 during mid-day trading on Thursday, reaching $106.45. 41,190 shares of the company's stock traded hands, compared to its average volume of 419,424. StoneX Group Inc. has a 12-month low of $50.31 and a 12-month high of $105.84. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.12 and a beta of 0.56. 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 company has a 50 day moving average price of $94.78 and a 200-day moving average price of $86.47.

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

Analyst Ratings Changes

Separately, Zacks Research upgraded StoneX Group to a "strong-buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

StoneX Group Profile

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.