T. Rowe Price Investment Management Inc. Buys 236,560 Shares of StoneX Group Inc. $SNEX

Key Points

• T. Rowe Price Investment Management increased its stake in StoneX Group Inc. by 45.4%, owning 757,633 shares worth approximately $57.87 million after adding 236,560 shares in the first quarter.
• StoneX Group reported quarterly earnings of $1.22 per share, which missed analysts' expectations by 17 cents, but revenue reached $1.02 billion, exceeding estimates of $923.10 million.
• Zacks Research upgraded StoneX Group to a "strong-buy" rating, reflecting positive sentiment from analysts with an average rating of "Strong Buy" for the stock.

T. Rowe Price Investment Management Inc. grew its stake in StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 757,633 shares of the company's stock after buying an additional 236,560 shares during the period. T. Rowe Price Investment Management Inc. owned 1.57% of StoneX Group worth $57,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in StoneX Group by 51.3% in the first quarter. Vanguard Group Inc. now owns 2,881,228 shares of the company's stock valued at $220,068,000 after purchasing an additional 976,587 shares during the period. American Century Companies Inc. grew its position in StoneX Group by 93.6% during the first quarter. American Century Companies Inc. now owns 1,963,717 shares of the company's stock valued at $149,989,000 after acquiring an additional 949,486 shares during the period. Perpetual Ltd purchased a new stake in StoneX Group during the 1st quarter worth $64,679,000. Dimensional Fund Advisors LP grew its stake in shares of StoneX Group by 41.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,923,494 shares of the company's stock valued at $146,915,000 after buying an additional 567,196 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in StoneX Group in the first quarter valued at approximately $26,041,000. Institutional investors and hedge funds own 75.93% of the company's stock.

Insider Buying and Selling at StoneX Group

In other news, insider Abigail H. Perkins sold 10,470 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $86.22, for a total transaction of $902,723.40. Following the completion of the sale, the insider owned 43,913 shares of the company's stock, valued at approximately $3,786,178.86. This represents a 19.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Moore Fowler sold 1,125 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.00, for a total transaction of $108,000.00. Following the completion of the transaction, the director owned 115,749 shares of the company's stock, valued at approximately $11,111,904. This trade represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,305 shares of company stock valued at $3,859,233 in the last three months. Corporate insiders own 11.70% of the company's stock.

StoneX Group Price Performance

Shares of NASDAQ:SNEX traded up $1.63 during trading on Thursday, reaching $101.59. The stock had a trading volume of 63,065 shares, compared to its average volume of 417,329. The business's 50-day moving average price is $93.20 and its 200 day moving average price is $85.65. StoneX Group Inc. has a 52 week low of $50.31 and a 52 week high of $101.54. 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 capitalization of $5.30 billion, a PE ratio of 17.32 and a beta of 0.57.

StoneX Group (NASDAQ:SNEX - Get Free Report) last issued its 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). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $923.10 million. StoneX Group had a return on equity of 16.20% and a net margin of 0.23%. As a group, equities analysts predict that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.