Legal & General Group Plc Makes New Investment in StoneX Group Inc. $SNEX

Legal & General Group Plc purchased a new stake in shares of StoneX Group Inc. (NASDAQ:SNEX) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 163,250 shares of the company’s stock, valued at approximately $19,345,000. Legal & General Group Plc owned approximately 0.14% of StoneX Group as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNEX. The Manufacturers Life Insurance Company acquired a new stake in shares of StoneX Group in the second quarter valued at $4,934,000. Algert Global LLC bought a new position in StoneX Group during the second quarter valued at about $3,298,000. Infrastructure Capital Advisors LLC acquired a new position in StoneX Group during the second quarter worth about $474,000. Sanctuary Advisors LLC bought a new stake in StoneX Group in the second quarter worth about $735,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in StoneX Group in the second quarter worth about $114,000. Institutional investors own 75.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on SNEX shares. Zacks Research upgraded shares of StoneX Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wall Street Zen cut StoneX Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Jefferies Financial Group downgraded StoneX Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $123.00 to $112.00 in a report on Monday, July 20th. Finally, Weiss Ratings lowered StoneX Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $112.00.

Insider Activity

In other StoneX Group news, CFO William J. Dunaway sold 96,490 shares of StoneX Group stock in a transaction on Friday, August 14th. The stock was sold at an average price of $66.35, for a total transaction of $6,402,111.50. Following the completion of the transaction, the chief financial officer directly owned 502,203 shares of the company’s stock, valued at approximately $33,321,169.05. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Lowry Maurer sold 52,648 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $66.25, for a total transaction of $3,487,930.00. Following the completion of the sale, the insider owned 236,964 shares in the company, valued at $15,698,865. This represents a 18.18% decrease in their position. 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. Over the last three months, insiders have sold 1,002,340 shares of company stock valued at $79,453,640. 11.79% of the stock is owned by insiders.

StoneX Group Price Performance

NASDAQ SNEX opened at $68.64 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.82 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $8.28 billion, a PE ratio of 16.39 and a beta of 0.66. StoneX Group Inc. has a 12-month low of $36.45 and a 12-month high of $94.66. The company has a 50 day moving average price of $74.90 and a two-hundred day moving average price of $74.15.

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

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.