StoneX Group Inc. $SNEX Stock Position Raised by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. increased its stake in StoneX Group Inc. by 55.2% in Q1, owning 22,903 shares valued at $1.75 million.
• CEO Philip Andrew Smith sold 7,500 shares for approximately $627,600, reducing his ownership by 2.24%, while Chairman John Radziwill added 1,400 shares, increasing his stake by 1.42%.
• StoneX Group reported Q2 earnings of $1.22 per share, missing estimates, but achieved a revenue of $1.02 billion, surpassing expectations of $923.1 million.

Corebridge Financial Inc. lifted its holdings in shares of StoneX Group Inc. (NASDAQ:SNEX - Free Report) by 55.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,903 shares of the company's stock after buying an additional 8,146 shares during the period. Corebridge Financial Inc.'s holdings in StoneX Group were worth $1,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SNEX. Tudor Investment Corp ET AL bought a new stake in shares of StoneX Group during the 4th quarter valued at about $273,000. Northern Trust Corp grew its position in shares of StoneX Group by 9.9% during the 4th quarter. Northern Trust Corp now owns 335,456 shares of the company's stock valued at $32,865,000 after buying an additional 30,248 shares during the last quarter. Lido Advisors LLC grew its position in shares of StoneX Group by 29.4% during the 4th quarter. Lido Advisors LLC now owns 3,200 shares of the company's stock valued at $314,000 after buying an additional 727 shares during the last quarter. Algert Global LLC grew its position in StoneX Group by 27.6% in the 4th quarter. Algert Global LLC now owns 11,978 shares of the company's stock worth $1,173,000 after purchasing an additional 2,589 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in StoneX Group in the 4th quarter worth about $9,520,000. Institutional investors own 75.93% of the company's stock.

Insider Activity at StoneX Group

In other news, CEO Philip Andrew Smith sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 directly owned 327,754 shares of the company's stock, valued at approximately $27,426,454.72. This represents a 2.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John Radziwill acquired 1,400 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average cost of $85.00 per share, with a total value of $119,000.00. Following the purchase, the chairman directly 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. In the last 90 days, insiders sold 45,305 shares of company stock valued at $3,859,233. 11.70% of the stock is currently owned by insiders.

StoneX Group Trading Up 0.1%

Shares of NASDAQ:SNEX opened at $102.29 on Wednesday. The company has a 50 day moving average of $94.45 and a 200-day moving average of $86.35. The firm has a market cap of $5.34 billion, a P/E ratio of 17.43 and a beta of 0.56. StoneX Group Inc. has a twelve month low of $50.31 and a twelve month high of $102.63. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 1.30.

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

Analyst Upgrades and Downgrades

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