Municipal Employees Retirement System of Michigan trimmed its stake in Stifel Financial Corporation (NYSE:SF) by 21.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,660 shares of the financial services provider’s stock after selling 5,760 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Stifel Financial were worth $1,104,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SF. Dimensional Fund Advisors LP increased its position in Stifel Financial by 22.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,804,119 shares of the financial services provider’s stock valued at $128,934,000 after acquiring an additional 519,247 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Stifel Financial by 19.2% during the second quarter. Macquarie Group Ltd. now owns 2,174,947 shares of the financial services provider’s stock valued at $100,004,000 after purchasing an additional 350,536 shares during the period. American Century Companies Inc. bought a new stake in Stifel Financial during the third quarter valued at about $18,226,000. Balyasny Asset Management LLC grew its holdings in Stifel Financial by 269.1% during the second quarter. Balyasny Asset Management LLC now owns 351,021 shares of the financial services provider’s stock valued at $16,140,000 after purchasing an additional 255,913 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC grew its holdings in Stifel Financial by 27.1% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,148,088 shares of the financial services provider’s stock valued at $52,789,000 after purchasing an additional 244,479 shares during the period. Hedge funds and other institutional investors own 88.58% of the company’s stock.
SF has been the subject of a number of recent analyst reports. Wells Fargo & Company raised Stifel Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $64.00 in a research note on Friday, December 1st. Nomura upped their price objective on Stifel Financial from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised Stifel Financial from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Thursday, October 5th. JMP Securities reissued a “neutral” rating on shares of Stifel Financial in a research note on Friday, August 18th. Finally, BidaskClub lowered Stifel Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.67.
Stifel Financial Corporation (NYSE SF) traded up $0.99 on Thursday, reaching $59.27. The company’s stock had a trading volume of 339,152 shares, compared to its average volume of 422,529. The stock has a market cap of $3,995.75, a P/E ratio of 18.18, a P/E/G ratio of 1.41 and a beta of 1.70. Stifel Financial Corporation has a one year low of $41.93 and a one year high of $60.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.67 and a quick ratio of 0.61.
Stifel Financial (NYSE:SF) last released its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.83 by $0.06. The company had revenue of $721.20 million for the quarter, compared to the consensus estimate of $701.12 million. Stifel Financial had a return on equity of 9.78% and a net margin of 7.61%. Stifel Financial’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. equities analysts anticipate that Stifel Financial Corporation will post 3.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.40 annualized dividend and a yield of 0.67%. Stifel Financial’s dividend payout ratio (DPR) is presently 15.94%.
In other news, insider Thomas B. Michaud sold 24,536 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $52.40, for a total value of $1,285,686.40. Following the completion of the sale, the insider now owns 60,589 shares of the company’s stock, valued at approximately $3,174,863.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Oates sold 1,768 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $52.27, for a total value of $92,413.36. Following the completion of the transaction, the director now owns 28,640 shares of the company’s stock, valued at approximately $1,497,012.80. The disclosure for this sale can be found here. Insiders have sold a total of 54,304 shares of company stock worth $2,869,480 in the last ninety days. Insiders own 3.60% of the company’s stock.
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Stifel Financial Profile
Stifel Financial Corp. is a financial holding company. Its principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. It operates through three segments: Global Wealth Management, Institutional Group and Other. The Global Wealth Management segment consists of the Private Client Group and Stifel Bank businesses.
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