New Risk • May 13
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$617k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Live News • May 08
StoneX Group Delivers Record Q2 Earnings With Strong Growth Across Key Segments and Acquisitions StoneX Group reported record fiscal Q2 2026 results, with net operating revenues of US$1.57b and earnings per share of US$2.07, alongside a 26.5% return on equity.
Management highlighted strong contributions from all four operating segments and recent acquisitions, including R.J. O’Brien, Benchmark, and WCS International Limited.
The stock has risen 70.4% year to date, while external analysts project earnings per share growth of 47.7% in 2024 and assign the company a Zacks Rank #1 with a Growth Score of B.
For you as an investor, the story here is about scale and breadth. StoneX is leaning on its mix of Commercial, Institutional, Self-Directed/Retail, and Payments businesses, with recent deals such as R.J. O’Brien and WCS International adding more client flow and capabilities. Management expects the R.J. O’Brien integration to be substantially complete within the fiscal year and is targeting synergies from that deal as StoneX positions itself as the largest non-bank futures commission merchant in the U.S.
On the earnings side, the record Q2 numbers, a 26.5% return on equity, and positive revisions to current-year earnings estimates have attracted attention from growth-focused analysts, reflected in the Zacks ranking and projected EPS growth. At the same time, StoneX is carrying higher expenses tied to acquisitions, technology, and compensation, so the key question for you is whether the current performance and integration progress justify those added costs after a 70.4% year-to-date stock move and a 3-for-2 stock split earlier in 2026. Reported Earnings • May 07
Second quarter 2026 earnings released: EPS: US$2.21 (vs US$0.99 in 2Q 2025) Second quarter 2026 results: EPS: US$2.21 (up from US$0.99 in 2Q 2025). Revenue: US$45.3b (up 24% from 2Q 2025). Net income: US$168.9m (up 143% from 2Q 2025). Profit margin: 0.4% (up from 0.2% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 30
StoneX Group Inc. to Report Q2, 2026 Results on May 06, 2026 StoneX Group Inc. announced that they will report Q2, 2026 results After-Market on May 06, 2026 Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$99.37, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Capital Markets industry in the US. Total returns to shareholders of 226% over the past three years. Announcement • Mar 27
StoneX Group Inc. Launches Securitization Banking, Lending And Capital Markets Platform StoneX Group Inc. announced the launch of a new Securitization Banking, Lending & Capital Markets platform, expanding the firm’s capabilities across structured finance and capital formation. The new business will provide clients with tailored capital markets solutions, lending capabilities, and opportunities for platform and portfolio investments across a broad range of asset classes. The initiative builds upon StoneX’s established fixed income sales and trading business and reflects the firm’s strategy to deepen its participation across the institutional credit ecosystem. By combining market access, capital markets expertise, and structured financing capabilities, StoneX aims to help clients access new sources of liquidity and financing across both traditional and emerging asset sectors. The new team will support a wide spectrum of global structured finance activities. Its mandate includes banking advisory services, lending solutions, and investment opportunities in platforms and portfolios, with particular emphasis on non-traditional asset sectors where flexible capital and structuring expertise can play a critical role. StoneX has been developing the structured finance platform for more than a year as a natural extension of its fixed income business. The firm is actively hiring banking and analytics professionals to support the growth of the new platform as it scales globally. Recent Insider Transactions • Mar 20
Non-Executive Independent Director recently sold US$107k worth of stock On the 13th of March, Annabelle Bexiga sold around 1k shares on-market at roughly US$107 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$127k. Insiders have been net sellers, collectively disposing of US$8.2m more than they bought in the last 12 months. Announcement • Mar 16
StoneX Group Inc. (NasdaqGS:SNEX) proposed to acquire CAB Payments Holdings Limited (LSE:CABP) for £241 million. StoneX Group Inc. (NasdaqGS:SNEX) proposed to acquire CAB Payments Holdings Limited (LSE:CABP) for £241 million on March 15, 2026.
The transaction is subject to consummation of due diligence investigation. The unanimous and unconditional recommendation of our Proposal by the Board of CAB Payments to its shareholders and receipt of hard irrevocable undertakings from each CAB Payments director, the Helios Consortium and Eurocomm Holding Limited, committing to support our Proposal. The Board of Directors of CAB Payments Holdings Limited formed a special committee for the transaction.
David Wyles, Timm Schipporeit, Edyta Lipka and Adnan Choudhury of Perella Weinberg Partners LP acted as financial advisor for StoneX Group Inc. James Woolf, Aamir Khan, Anusuya Nayar and Michael Hart of Barclays Bank PLC acted as financial advisor for CAB Payments Holdings Limited. Kunal Gandhi, Tom Murphy and Tihomir Kerkenezov of Fenchurch Advisory Partners LLP acted as independent financial advisor for independent board of CAB Payments Holdings Limited. Allen Overy Shearman Sterling LLP acted as legal advisor for CAB Payments Holdings Limited. Chris Baird, Kamalini Hull and Luke Spells of Investec Bank plc acted as joint broker for CAB Payments Holdings PLC. Toby Gibbs, Malachy McEntyre, Oliver Jackson and Harry Davies-Ball of Shore Capital acted as joint broker for CAB Payments Holdings PLC. Edward Bridges and Katherine Bell of FTI Consulting LLP acted as PR adviser for CAB Payments Holdings PLC. Announcement • Mar 13
StoneX Group Inc. Announces Board changes At the Annual Meeting of the Shareholders of StoneX Group Inc. held on March 10, 2026 Charles Lyon and Philip Smith were elected as directors. During the regular meeting of the Board of Directors held March 10, 2026, following the Annual Meeting of the Shareholders of StoneX Group Inc., John Radziwill was elected as Chairman of the Board of Directors and Sean M. O'Connor was elected as Executive Vice-Chairman of the Board of Directors. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$108, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Capital Markets industry in the US. Total returns to shareholders of 149% over the past three years. Announcement • Feb 27
Stonex Digital Launches Digital Asset Lending Capability StoneX Group Inc. announced that StoneX Digital, a division of StoneX, has launched a digital asset lending capability, expanding the firm's existing brokerage and financing services for institutional clients. StoneX Digital connects institutional clients to digital asset markets through spot execution, listed products, such as exchange-traded funds and futures, and financing solutions within a single institutional framework. The introduction of this lending capability extends those services and aims to support clients seeking additional liquidity and capital efficiency while maintaining exposure to digital assets within broader trading and investment strategies. Institutional market participants increasingly require financing tools that align with both digital and traditional asset workflows. StoneX developed this capability to meet that demand and build on infrastructure that already supports digital asset execution alongside exchange-traded products and derivatives. The initial collateral for this program will be Bitcoin, however, StoneX plans to extend eligibility to additional large-cap digital assets over time as client demand develops. StoneX structures each transaction to support disciplined collateral management and defined risk parameters. Reported Earnings • Feb 05
First quarter 2026 earnings released: EPS: US$2.75 (vs US$1.77 in 1Q 2025) First quarter 2026 results: EPS: US$2.75 (up from US$1.77 in 1Q 2025). Revenue: US$38.5b (up 40% from 1Q 2025). Net income: US$139.0m (up 69% from 1Q 2025). Profit margin: 0.4% (up from 0.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 03
Price target increased by 23% to US$122 Up from US$99.00, the current price target is provided by 1 analyst. New target price is 7.9% above last closing price of US$113. Stock is up 57% over the past year. The company is forecast to post earnings per share of US$7.39 for next year compared to US$6.23 last year. Announcement • Jan 29
StoneX Group Inc. to Report Q1, 2026 Results on Feb 04, 2026 StoneX Group Inc. announced that they will report Q1, 2026 results After-Market on Feb 04, 2026 Announcement • Jan 27
StoneX Group Inc., Annual General Meeting, Mar 10, 2026 StoneX Group Inc., Annual General Meeting, Mar 10, 2026. Location: 329 north park avenue, suite 350, florida, winter park, United States New Risk • Dec 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$467k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Dec 21
Chief Governance & Legal Officer recently sold US$365k worth of stock On the 18th of December, Diego Rotsztain sold around 4k shares on-market at roughly US$95.36 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$10.0m more than they bought in the last 12 months. Reported Earnings • Nov 26
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$6.45 (up from US$5.50 in FY 2024). Revenue: US$130.9b (up 33% from FY 2024). Net income: US$305.9m (up 22% from FY 2024). Profit margin: 0.2% (down from 0.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 33%. Earnings per share (EPS) also surpassed analyst estimates by 2.0%. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 25
Price target decreased by 11% to US$99.00 Down from US$111, the current price target is provided by 1 analyst. New target price is 11% above last closing price of US$89.16. Stock is up 28% over the past year. Announcement • Nov 18
StoneX Group Inc. to Report Q4, 2025 Results on Nov 24, 2025 StoneX Group Inc. announced that they will report Q4, 2025 results After-Market on Nov 24, 2025 Announcement • Oct 19
StoneX Group Inc. (NasdaqGS:SNEX) completed the acquisition of Intercam Advisors, Inc. and Intercam Securities, Inc. from Intercam Holdings, Inc. StoneX Group Inc. (NasdaqGS:SNEX) entered into a letter of intent to acquire Intercam Advisors, Inc. and Intercam Securities, Inc. from Intercam Holdings, Inc. on June 30, 2025. The proposed acquisition remains subject to the negotiation and execution of definitive agreements, which will be subject to regulatory approvals and other closing conditions.
StoneX Group Inc. (NasdaqGS:SNEX) completed the acquisition of Intercam Advisors, Inc. and Intercam Securities, Inc. from Intercam Holdings, Inc. on October 17, 2025. Under the StoneX umbrella, the entities have been rebranded to StoneX International Securities Inc. and StoneX International Advisors, Inc. Recent Insider Transactions • Aug 21
Executive Vice-Chairman recently sold US$478k worth of stock On the 20th of August, Sean O'Connor sold around 5k shares on-market at roughly US$95.60 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$628k. Sean has been a net seller over the last 12 months, reducing personal holdings by US$12m. Reported Earnings • Aug 06
Third quarter 2025 earnings released: EPS: US$1.35 (vs US$1.30 in 3Q 2024) Third quarter 2025 results: EPS: US$1.35 (up from US$1.30 in 3Q 2024). Revenue: US$34.4b (up 29% from 3Q 2024). Net income: US$63.4m (up 6.2% from 3Q 2024). Profit margin: 0.2% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 06
StoneX Group Inc. (NasdaqGS:SNEX) completed the acquisition of The Benchmark Company, LLC. StoneX Group Inc. (NasdaqGS:SNEX) signed an agreement to acquire The Benchmark Company, LLC for $75 million on March 11, 2025. Following the transaction, Richard Messina, Founder and Chief Executive Officer of Benchmark, will continue in his role, leading the division within StoneX. Completion of the transaction is subject to regulatory approval and customary closing conditions. The Benchmark acquisition is expected to close in the third calendar quarter of 2025. Broadhaven Capital Partners, LLC acted as financial advisor to The Benchmark Company, LLC.
StoneX Group Inc. (NasdaqGS:SNEX) completed the acquisition of The Benchmark Company, LLC on August 5, 2025. Benchmark’s team and operations will become part of StoneX’s Institutional division, with the Benchmark brand maintained in the near term to ensure continuity for clients and counterparties. Recent Insider Transactions • Jun 12
Group Chief Executive recently sold US$628k worth of stock On the 10th of June, Philip Smith sold around 8k shares on-market at roughly US$83.68 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.4m. Philip has been a net seller over the last 12 months, reducing personal holdings by US$2.6m. Recent Insider Transactions • May 18
Group President recently sold US$1.5m worth of stock On the 14th of May, Charles Lyon sold around 17k shares on-market at roughly US$87.92 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.4m. This was Charles' only on-market trade for the last 12 months. Price Target Changed • May 12
Price target increased by 20% to US$102 Up from US$85.33, the current price target is provided by 1 analyst. New target price is 16% above last closing price of US$87.93. Stock is up 75% over the past year. The company is forecast to post earnings per share of US$5.83 for next year compared to US$5.49 last year. Reported Earnings • May 08
Second quarter 2025 earnings released: EPS: US$1.53 (vs US$1.12 in 2Q 2024) Second quarter 2025 results: EPS: US$1.53 (up from US$1.12 in 2Q 2024). Revenue: US$36.6b (up 68% from 2Q 2024). Net income: US$71.7m (up 40% from 2Q 2024). Profit margin: 0.2% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 05
Executive Vice-Chairman recently sold US$3.4m worth of stock On the 1st of May, Sean O'Connor sold around 38k shares on-market at roughly US$89.72 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Sean has been a net seller over the last 12 months, reducing personal holdings by US$11m. Announcement • May 01
StoneX Group Inc. to Report Q2, 2025 Results on May 07, 2025 StoneX Group Inc. announced that they will report Q2, 2025 results After-Market on May 07, 2025 Announcement • Apr 16
StoneX Group Inc. (NasdaqGS:SNEX) agreed to acquire RTS Investor Corp. from Westmoor Trail Partners LLC and others for $1 billion. StoneX Group Inc. (NasdaqGS:SNEX) agreed to acquire RTS Investor Corp. from Westmoor Trail Partners LLC and others for $1 billion on April 13, 2025. The consideration comprised of $625 million in cash and approximately 3.5 million shares of StoneX common stock, each subject to customary purchase price adjustments. StoneX will also assume up to $143 million of RJO debt. StoneX will fund the acquisition with 2nd Lien Senior Secured Notes. For the period ending December 31, 2024, RTS Investor Corp. reported total revenue of $766 million, net income of $101 million and EBITDA of $170 million.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders, minimum balance sheet requirements and subject to antitrust regulations. The deal has been unanimously approved by the board. The expected completion of the transaction is Q3, 2025. The transaction is expected to immediately accretive to StoneX's EPS and ROAE.
Bank of America Corporation acted as financial advisor for StoneX Group Inc. Leonard Kreynin, Daniel P. Gibbons, Scott M. Herrig, Roxanne Walton, Corey M. Goodman, Kyoko Takahashi Lin, Frank Azzopardi and Jesse Solomon of Davis Polk & Wardwell LLP acted as legal advisor for StoneX Group Inc. Broadhaven Capital Partners, LLC acted as financial advisor for RTS Investor Corp. Mayer Brown LLP acted as legal advisor for RTS Investor Corp. Michael Best & Friedrich LLP acted as legal advisor to RTS Investor and Westmoor Trail. Recent Insider Transactions • Apr 11
Group Chief Executive recently sold US$626k worth of stock On the 4th of April, Philip Smith sold around 9k shares on-market at roughly US$69.56 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.8m. Philip has been a net seller over the last 12 months, reducing personal holdings by US$1.9m. Announcement • Apr 01
StoneX Group Inc. Launches Shell Egg Contract to Address Price Volatility StoneX Group Inc. announced the launch of a new shell egg contract utilizing a global Price Reporting Agency (PRA) benchmark. The new contract provides egg producers, buyers, and food industry participants with a tool to help manage price risk and navigate ongoing market volatility. This first-of-its-kind offering combines StoneX's deep expertise in commodity risk management and global derivatives access with a trusted industry Shell Egg benchmark, which is IOSCO-assured and widely used across the agrifood sector. It expands StoneX's already robust suite of risk management tools, bringing enhanced pricing transparency and supply chain stability by allowing market participants to manage risk across the entire ingredient supply chain, including eggs. The launch of this shell egg contract underscores StoneX's origins in the egg industry - the Company was founded in 1924 by Saul Stone as an egg wholesaler - and its evolution into a global financial services leader. The addition of this new product not only deepens StoneX's offerings but also provides food industry clients with a vital risk management tool, reinforcing the firm's commitment to supporting their growth amid market volatility. Announcement • Mar 13
StoneX Group Inc. (NasdaqGS:SNEX) signed an agreement to acquire The Benchmark Company, LLC. StoneX Group Inc. (NasdaqGS:SNEX) signed an agreement to acquire The Benchmark Company, LLC on March 11, 2025. Following the transaction, Richard Messina, Founder and Chief Executive Officer of Benchmark, will continue in his role, leading the division within StoneX. Completion of the transaction is subject to regulatory approval and customary closing conditions. Broadhaven Capital Partners, LLC acted as financial advisor to The Benchmark Company, LLC. Recent Insider Transactions • Mar 02
Independent Non-Executive Director recently sold US$485k worth of stock On the 26th of February, John Fowler sold around 4k shares on-market at roughly US$120 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.8m. Insiders have been net sellers, collectively disposing of US$17m more than they bought in the last 12 months. Recent Insider Transactions • Feb 21
Insider recently sold US$1.8m worth of stock On the 18th of February, Glenn Stevens sold around 15k shares on-market at roughly US$118 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$4.1m. Insiders have been net sellers, collectively disposing of US$16m more than they bought in the last 12 months. Reported Earnings • Feb 06
First quarter 2025 earnings released: EPS: US$2.66 (vs US$2.21 in 1Q 2024) First quarter 2025 results: EPS: US$2.66 (up from US$2.21 in 1Q 2024). Revenue: US$27.6b (up 43% from 1Q 2024). Net income: US$82.4m (up 24% from 1Q 2024). Profit margin: 0.3% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 04
StoneX Group Inc. (NasdaqGS:SNEX) completed the acquisition of Octo Finances SA. StoneX Group Inc. (NasdaqGS:SNEX) entered into an agreement to acquire Octo Finances SA on September 13, 2024. The completion of the transaction is subject to regulatory approval and customary closing conditions. LAMARTINE CONSEIL acted as legal advisor to selling founders of Octo Finances SA in the transaction.
StoneX Group Inc. (NasdaqGS:SNEX) completed the acquisition of Octo Finances SA on February 3, 2025. Announcement • Jan 30
StoneX Group Inc. to Report Q1, 2025 Results on Feb 05, 2025 StoneX Group Inc. announced that they will report Q1, 2025 results After-Market on Feb 05, 2025 Announcement • Jan 24
StoneX Group Inc., Annual General Meeting, Mar 05, 2025 StoneX Group Inc., Annual General Meeting, Mar 05, 2025. Location: wells fargo center, 333 s.e. 2nd avenue, florida, miami United States Buy Or Sell Opportunity • Dec 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to US$94.10. The fair value is estimated to be US$77.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 19%. Recent Insider Transactions • Dec 17
Chief Risk Officer recently sold US$508k worth of stock On the 12th of December, Mark Maurer sold around 5k shares on-market at roughly US$102 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger sale from another insider worth US$4.1m. Insiders have been net sellers, collectively disposing of US$16m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Dec 13
Chief Risk Officer notifies of intention to sell stock Mark Maurer intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of December. If the sale is conducted around the recent share price of US$102, it would amount to US$508k. Since December 2023, Mark has owned 53.42k shares directly. Company insiders have collectively sold US$19m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Dec 11
StoneX Group Inc. Announces Chief Executive Officer Changes StoneX Group Inc. announced changes to its executive management team. At its recently concluded meeting of the company Board of Directors, several changes to its executive management team were approved. These changes include: Sean O’Connor, current Chief Executive Officer, will become Executive Vice-Chairman of the Board of Directors; Philip Smith, currently a member of executive committee responsible for the Commercial and Payments business segments, will become Group Chief Executive Officer. Mr. O’Connor will continue to be an active member of company's executive committee with primary focus on longer-term strategy, capital allocation and M&A activity, and his compensation package has been restructured to reflect a focus on share price appreciation and long-term value creation. Mr. Smith will have general responsibility for managing StoneX’s business and will report to Mr. O’Connor. Announcement • Dec 10
StoneX Group Inc. Announces Executive Changes StoneX Group Inc. announced changes to its executive management team. At its recently concluded meeting of the StoneX Board of Directors (the “Board”), several changes to StoneX’s executive management team were approved. These changes include: Sean O’Connor, StoneX’s current Chief Executive Officer, will become Executive Vice-Chairman of the Board of Directors; Philip Smith, currently a member of StoneX’s executive committee responsible for the Commercial and Payments business segments, will become Group Chief Executive Officer; and Charles Lyon, currently a member of StoneX’s executive committee responsible for the Institutional business segment, will become Group President. Mr. O’Connor will continue to be an active member of StoneX’s executive committee with primary focus on longer-term strategy, capital allocation and M&A activity, and his compensation package has been restructured to reflect a focus on share price appreciation and long-term value creation. Mr. Smith and Mr. Lyon will have general responsibility for managing StoneX’s business and will report to Mr. O’Connor. In addition to the above changes, Glenn Stevens, a member of the StoneX executive committee responsible for the Self-Directed/Retail business segment, will be retiring at the end of 2024. Mr. Stevens joined StoneX following the acquisition of Gain Capital Inc. in 2020. Recent Insider Transactions • Nov 27
Chief Governance & Legal Officer recently sold US$696k worth of stock On the 25th of November, Diego Rotsztain sold around 7k shares on-market at roughly US$102 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$3.7m. Insiders have been net sellers, collectively disposing of US$12m more than they bought in the last 12 months. Price Target Changed • Nov 20
Price target increased by 23% to US$111 Up from US$90.00, the current price target is provided by 1 analyst. New target price is 8.0% above last closing price of US$103. Stock is up 72% over the past year. The company is forecast to post earnings per share of US$8.04 for next year compared to US$8.54 last year. Announcement • Nov 14
StoneX Group Inc. to Report Q4, 2024 Results on Nov 19, 2024 StoneX Group Inc. announced that they will report Q4, 2024 results After-Market on Nov 19, 2024 Recent Insider Transactions • Nov 11
President recently sold US$3.7m worth of stock On the 6th of November, Sean O'Connor sold around 38k shares on-market at roughly US$98.42 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Sean's only on-market trade for the last 12 months. Announcement • Nov 07
StoneX Confirms No Intention to Make an Offer for CAB Payments Holdings StoneX Group Inc. (NasdaqGS:SNEX) noted the announcements by CAB Payments Holdings Limited (LSE:CABP) on 10th October 2024 and 30th October 2024. StoneX confirmed that it does not intend to make an offer for CAB Payments. This is a statement to which Rule 2.8 of the Code applies. Accordingly, StoneX and any person acting in concert with it will, except with the consent of the UK Panel on Takeovers and Mergers ("Panel"), be bound by the restrictions under Rule 2.8 of the Code, save in the circumstances set out below or otherwise with the consent of the Panel. Under Note 2 on Rule 2.8 of the Code, StoneX (and any person acting in concert with it) reserves the right to set aside the restrictions in Rule 2.8 of the Code within six months of the date of this announcement in any one or more of the following circumstances: (i) with the agreement of the Board of CAB Payments; (ii) a third party announces a firm intention to make an offer for CAB Payments; (iii) CAB Payments announces a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover (as defined in the Code); or (iv) there has been a material change of circumstances (as determined by the Panel). Buy Or Sell Opportunity • Oct 28
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 9.3% to US$89.91. The fair value is estimated to be US$74.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 17%. New Risk • Oct 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Profit margins are more than 30% lower than last year (0.3% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Significant insider selling over the past 3 months (US$353k sold). Announcement • Oct 11
StoneX Group Inc. (NasdaqGS:SNEX) proposed to acquire CAB Payments Holdings Limited (LSE:CABP) for approximately £300 million. StoneX Group Inc. (NasdaqGS:SNEX) proposed to acquire CAB Payments Holdings Limited (LSE:CABP) for approximately £300 million on July 30, 2024. A cash consideration of £295.73 million valued at £1.15 per share will be paid by StoneX Group Inc. As part of consideration, £3.46 million is paid towards Long Term Incentive Plan and £292.26 million is paid towards common equity of CAB Payments Holdings Limited. The Board of CAB Payments evaluated the Proposal with its financial and legal advisers and concluded that they were not in the best interests of the Company and its shareholders. On September 23, 2024, StoneX Group Inc. (NasdaqGS:SNEX) proposed a revised unsolicited non-binding proposal to acquire CAB Payments Holdings Limited (LSE:CABP) for approximately £370 million. A cash consideration of £368.51 million valued at £1.45 per share will be paid by StoneX Group Inc. The Board of CAB Payments is evaluating the Possible Offer, together with its financial and legal advisers. There can be no certainty that an offer will be made, nor as to the terms on which an offer might be made.
Aamir Khan, James Woolf, Michael Hart and Anusuya Nayar of Barclays Bank PLC acted as financial advisor to CAB Payments Holdings Limited. Allen Overy Shearman Sterling LLP acted as legal advisor to CAB Payments Holdings Limited. Matthew Smith, Timm Schipporeit, Edyta Lipka and Adnan Choudhury of Perella Weinberg UK Limited acted as financial advisor to StoneX Group Inc. New Risk • Oct 09
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risks Profit margins are more than 30% lower than last year (0.3% net profit margin). Significant insider selling over the past 3 months (US$384k sold). Recent Insider Transactions • Aug 09
CEO of Europe recently sold US$304k worth of stock On the 7th of August, Philip Smith sold around 4k shares on-market at roughly US$75.89 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.5m. Insiders have been net sellers, collectively disposing of US$8.4m more than they bought in the last 12 months. Reported Earnings • Aug 07
Third quarter 2024 earnings released: EPS: US$2.02 (vs US$2.23 in 3Q 2023) Third quarter 2024 results: EPS: US$2.02 (down from US$2.23 in 3Q 2023). Revenue: US$26.7b (up 81% from 3Q 2023). Net income: US$61.9m (down 7.7% from 3Q 2023). Profit margin: 0.2% (down from 0.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 21% per year. Announcement • Aug 01
StoneX Group Inc. to Report Q3, 2024 Results on Aug 06, 2024 StoneX Group Inc. announced that they will report Q3, 2024 results After-Market on Aug 06, 2024 Buy Or Sell Opportunity • Jul 11
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to US$78.00. The fair value is estimated to be US$64.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 15%. Recent Insider Transactions • Jun 13
Chief Operating Officer recently sold US$1.5m worth of stock On the 7th of June, Xuong Nguyen sold around 20k shares on-market at roughly US$75.04 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Xuong has been a net seller over the last 12 months, reducing personal holdings by US$1.5m. Recent Insider Transactions • May 19
CEO of Europe recently sold US$601k worth of stock On the 15th of May, Philip Smith sold around 8k shares on-market at roughly US$75.18 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$6.1m more than they bought in the last 12 months. Reported Earnings • May 09
Second quarter 2024 earnings released: EPS: US$1.74 (vs US$1.35 in 2Q 2023) Second quarter 2024 results: EPS: US$1.74 (up from US$1.35 in 2Q 2023). Revenue: US$21.8b (up 37% from 2Q 2023). Net income: US$53.1m (up 32% from 2Q 2023). Profit margin: 0.2% (down from 0.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 20% per year. Announcement • May 03
StoneX Group Inc. to Report Q2, 2024 Results on May 08, 2024 StoneX Group Inc. announced that they will report Q2, 2024 results After-Market on May 08, 2024 Buy Or Sell Opportunity • Apr 25
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.4% to US$70.96. The fair value is estimated to be US$58.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 13%. Recent Insider Transactions • Mar 26
CEO of Europe recently sold US$488k worth of stock On the 21st of March, Philip Smith sold around 7k shares on-market at roughly US$69.73 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$526k. Insiders have been net sellers, collectively disposing of US$5.0m more than they bought in the last 12 months. Recent Insider Transactions • Mar 17
Insider recently sold US$505k worth of stock On the 13th of March, Scott Branch sold around 8k shares on-market at roughly US$67.29 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.2m. Insiders have been net sellers, collectively disposing of US$4.6m more than they bought in the last 12 months. Recent Insider Transactions • Feb 11
Independent Non-Executive Director recently sold US$479k worth of stock On the 7th of February, Scott Branch sold around 8k shares on-market at roughly US$63.87 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.2m. Insiders have been net sellers, collectively disposing of US$4.2m more than they bought in the last 12 months. Reported Earnings • Feb 07
First quarter 2024 earnings released: EPS: US$2.29 (vs US$2.50 in 1Q 2023) First quarter 2024 results: EPS: US$2.29 (down from US$2.50 in 1Q 2023). Revenue: US$19.3b (up 51% from 1Q 2023). Net income: US$69.1m (down 6.9% from 1Q 2023). Profit margin: 0.4% (down from 0.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 18% per year. Announcement • Jan 31
StoneX Group Inc. to Report Q1, 2024 Results on Feb 06, 2024 StoneX Group Inc. announced that they will report Q1, 2024 results After-Market on Feb 06, 2024 Announcement • Jan 19
StoneX Group Inc., Annual General Meeting, Feb 27, 2024 StoneX Group Inc., Annual General Meeting, Feb 27, 2024, at 10:00 US Eastern Standard Time. Location: at 329 Park Avenue North, Suite 350, Winter Park Florida United States Agenda: To consider the election of eight Directors; to consider the ratification of the appointment of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the 2024 fiscal year; and to consider an advisory vote on executive compensation. Recent Insider Transactions • Jan 10
Independent Non-Executive Director recently sold US$526k worth of stock On the 8th of January, Scott Branch sold around 8k shares on-market at roughly US$70.09 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.2m. Insiders have been net sellers, collectively disposing of US$3.7m more than they bought in the last 12 months. Recent Insider Transactions • Dec 17
Chief Risk Officer recently sold US$336k worth of stock On the 13th of December, Mark Maurer sold around 5k shares on-market at roughly US$67.21 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.1m more than they bought in the last 12 months. Reported Earnings • Nov 17
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: US$11.55 (up from US$10.27 in FY 2022). Revenue: US$60.0b (down 8.9% from FY 2022). Net income: US$230.4m (up 15% from FY 2022). Profit margin: 0.4% (up from 0.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 38%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year.