StoneX Group Inc. $SNEX Shares Bought by T. Rowe Price Investment Management Inc.

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. boosted its stake in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 45.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNEX. Wells Fargo & Company MN raised its position in StoneX Group by 33.7% in the fourth quarter. Wells Fargo & Company MN now owns 22,004 shares of the company's stock valued at $2,156,000 after purchasing an additional 5,550 shares during the period. Barclays PLC raised its position in StoneX Group by 5.0% in the fourth quarter. Barclays PLC now owns 49,094 shares of the company's stock valued at $4,810,000 after purchasing an additional 2,339 shares during the period. First Trust Advisors LP raised its position in StoneX Group by 5.2% in the fourth quarter. First Trust Advisors LP now owns 28,771 shares of the company's stock valued at $2,819,000 after purchasing an additional 1,411 shares during the period. MetLife Investment Management LLC raised its position in StoneX Group by 7.2% in the fourth quarter. MetLife Investment Management LLC now owns 16,674 shares of the company's stock valued at $1,634,000 after purchasing an additional 1,118 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in StoneX Group by 4.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 508,450 shares of the company's stock valued at $49,814,000 after purchasing an additional 20,928 shares during the period. Hedge funds and other institutional investors own 75.93% of the company's stock.

StoneX Group Price Performance

SNEX stock opened at $98.84 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $5.16 billion, a PE ratio of 16.84 and a beta of 0.57. StoneX Group Inc. has a 12-month low of $50.31 and a 12-month high of $100.40. The business's fifty day moving average price is $92.38 and its 200 day moving average price is $85.22.

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

Insider Transactions at StoneX Group

In related news, CEO Philip Andrew Smith sold 7,500 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 327,754 shares in the company, valued at approximately $27,426,454.72. The trade was a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Abigail H. Perkins sold 10,470 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $86.22, for a total value of $902,723.40. Following the sale, the insider owned 43,913 shares in the company, valued at approximately $3,786,178.86. This trade represents a 19.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,305 shares of company stock worth $3,859,233 over the last quarter. 11.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded StoneX Group to a "strong-buy" rating in a research 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 company's stock. According to MarketBeat.com, the company 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.

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