Algert Global LLC Raises Stake in Jefferies Financial Group Inc. $JEF

Key Points

• Algert Global increased its Jefferies Financial Group stake by 9.7% in the second quarter, bringing its holdings to 275,086 shares valued at approximately $13.75 million. Institutional investors and hedge funds collectively own 60.88% of JEF.
• Jefferies reported quarterly revenue of $2.21 billion, up 35% year over year, but earnings of $1.02 per share fell short of the $1.16 analyst consensus. Shares recently traded at $52.56, while analysts maintain a consensus “Hold” rating with a $62.62 average price target.
• The company declared a quarterly dividend of $0.40 per share, representing a 3.0% annualized yield, and authorized a $250 million share-repurchase program covering up to 2% of outstanding stock.

Algert Global LLC increased its holdings in Jefferies Financial Group Inc. (NYSE:JEF - Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,086 shares of the financial services provider's stock after buying an additional 24,415 shares during the quarter. Algert Global LLC owned about 0.14% of Jefferies Financial Group worth $13,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JEF. Smithfield Trust Co acquired a new stake in Jefferies Financial Group during the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in Jefferies Financial Group during the fourth quarter worth about $28,000. Ramirez Asset Management Inc. purchased a new position in Jefferies Financial Group during the fourth quarter valued at approximately $31,000. CX Institutional raised its position in Jefferies Financial Group by 77.6% during the second quarter. CX Institutional now owns 547 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 239 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Jefferies Financial Group by 50.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 672 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 224 shares during the period. 60.88% of the stock is currently owned by institutional investors and hedge funds.

Jefferies Financial Group Trading Up 1.3%

Shares of JEF opened at $52.56 on Wednesday. Jefferies Financial Group Inc. has a 52-week low of $35.53 and a 52-week high of $71.04. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.99. The firm's fifty day moving average is $54.95 and its two-hundred day moving average is $50.84. The stock has a market cap of $10.18 billion, a PE ratio of 14.68 and a beta of 1.54.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last issued its earnings results on Wednesday, June 24th. The financial services provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.14). Jefferies Financial Group had a net margin of 7.58% and a return on equity of 9.23%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the company earned $0.40 earnings per share. Jefferies Financial Group's quarterly revenue was up 35.0% on a year-over-year basis. Research analysts forecast that Jefferies Financial Group Inc. will post 3.71 earnings per share for the current fiscal year.

Jefferies Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. Jefferies Financial Group's dividend payout ratio (DPR) is currently 44.69%.

Jefferies Financial Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JEF. Weiss Ratings raised shares of Jefferies Financial Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. BMO Capital Markets lifted their price objective on shares of Jefferies Financial Group from $42.00 to $60.00 and gave the company a "market perform" rating in a report on Monday, June 8th. Oppenheimer decreased their price objective on shares of Jefferies Financial Group from $87.00 to $83.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Loop Capital set a $60.00 target price on shares of Jefferies Financial Group in a research note on Monday, June 8th. Finally, Morgan Stanley raised their target price on Jefferies Financial Group from $44.00 to $50.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $62.62.

Jefferies Financial Group Profile

Jefferies Financial Group Inc is a diversified financial services company that provides a range of investment banking, capital markets and asset management services to corporations, governments and institutional investors worldwide. Through its core platform, Jefferies offers advisory services for mergers and acquisitions, debt and equity underwriting, restructuring and recapitalization. The firm also operates a global sales and trading business covering equities, fixed income and foreign exchange products, complemented by equity research and macroeconomic analysis.

In addition to its capital markets franchise, Jefferies maintains a growing asset management division that delivers customized investment solutions across public and private markets.

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