StoneX Group Inc. $SNEX Shares Purchased by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in StoneX Group Inc. by 82.8%, owning 914,212 shares valued at approximately $69.8 million.
• StoneX Group reported earnings per share (EPS) of $1.22, missing analyst estimates by $0.17, while its revenue for the quarter was significantly higher than expected at $1.02 billion.
• Zacks Research has upgraded StoneX Group to a "strong-buy" rating, indicating positive sentiment, as the company currently holds a consensus rating of "Strong Buy".

Ameriprise Financial Inc. grew its stake in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 82.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 914,212 shares of the company's stock after buying an additional 414,204 shares during the period. Ameriprise Financial Inc. owned 1.90% of StoneX Group worth $69,828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SNEX. First Trust Advisors LP increased its position in StoneX Group by 5.2% during the 4th quarter. First Trust Advisors LP now owns 28,771 shares of the company's stock worth $2,819,000 after purchasing an additional 1,411 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of StoneX Group by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 16,674 shares of the company's stock worth $1,634,000 after purchasing an additional 1,118 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of StoneX Group by 4.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 508,450 shares of the company's stock worth $49,814,000 after buying an additional 20,928 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of StoneX Group in the fourth quarter valued at approximately $3,211,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of StoneX Group in the fourth quarter valued at approximately $263,000. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

StoneX Group Price Performance

SNEX opened at $99.23 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 1.30. StoneX Group Inc. has a 52-week low of $50.31 and a 52-week high of $100.40. The company has a 50 day moving average of $92.91 and a two-hundred day moving average of $85.55. The company has a market cap of $5.18 billion, a P/E ratio of 16.90 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 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 0.23% and a return on equity of 16.20%. On average, analysts expect that StoneX Group Inc. will post 8.7 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Philip Andrew Smith sold 7,500 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 327,754 shares in the company, valued at approximately $27,426,454.72. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John Radziwill bought 1,400 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average price of $85.00 per share, for a total transaction of $119,000.00. Following the completion of the acquisition, the chairman owned 100,240 shares in the company, valued at approximately $8,520,400. This trade represents a 1.42% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 45,305 shares of company stock valued at $3,859,233. 11.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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