The Manufacturers Life Insurance Company Makes New $4.93 Million Investment in StoneX Group Inc. $SNEX

The Manufacturers Life Insurance Company bought a new position in StoneX Group Inc. (NASDAQ:SNEX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 41,641 shares of the company’s stock, valued at approximately $4,934,000.

A number of other large investors have also modified their holdings of SNEX. Rakuten Securities Inc. acquired a new position in StoneX Group during the 2nd quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new stake in StoneX Group in the first quarter valued at approximately $34,000. Sterling Capital Management LLC grew its position in StoneX Group by 48.7% in the first quarter. Sterling Capital Management LLC now owns 476 shares of the company’s stock valued at $38,000 after acquiring an additional 156 shares in the last quarter. Basecamp Wealth Advisors LLC raised its stake in shares of StoneX Group by 49.7% during the first quarter. Basecamp Wealth Advisors LLC now owns 512 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its position in shares of StoneX Group by 183.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 433 shares of the company’s stock worth $41,000 after purchasing an additional 280 shares in the last quarter. Institutional investors and hedge funds own 75.93% of the company’s stock.

StoneX Group Trading Down 0.2%

SNEX opened at $68.48 on Tuesday. The stock has a market capitalization of $8.26 billion, a PE ratio of 16.35 and a beta of 0.66. The firm’s fifty day moving average price is $74.42 and its 200 day moving average price is $73.98. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.82 and a quick ratio of 1.39. StoneX Group Inc. has a 12-month low of $36.45 and a 12-month high of $94.66.

StoneX Group (NASDAQ:SNEX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.14. The company had revenue of $39.71 billion during the quarter, compared to analyst estimates of $1.32 billion. StoneX Group had a net margin of 0.33% and a return on equity of 20.18%. As a group, research analysts expect that StoneX Group Inc. will post 4.35 EPS for the current fiscal year.

Insider Transactions at StoneX Group

In other news, CFO William J. Dunaway sold 96,490 shares of StoneX Group stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $66.35, for a total value of $6,402,111.50. Following the completion of the transaction, the chief financial officer owned 502,203 shares in the company, valued at approximately $33,321,169.05. This trade represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Andrew Smith sold 77,310 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $79.15, for a total value of $6,118,828.80. Following the completion of the sale, the chief executive officer owned 738,216 shares of the company’s stock, valued at $58,427,335.68. This trade represents a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,002,340 shares of company stock worth $79,453,640. 11.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNEX has been the topic of several analyst reports. Weiss Ratings downgraded shares of StoneX Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen lowered StoneX Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded StoneX Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group downgraded StoneX Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $123.00 to $112.00 in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

StoneX Group Profile

StoneX Group Inc (NASDAQ: SNEX) is a global financial services firm offering execution, risk management, advisory and post-trade solutions across commodities, currencies, securities and digital assets. The company serves commercial businesses, institutional clients and financial intermediaries, providing market access and tailored services designed to help clients manage price risk, optimize working capital and execute complex transactions.

StoneX operates through several core segments.